AmerCareRoyal, backed by HCI Equity Partners, has acquired Ross & Wallace Paper Products, Inc. ACR is a supplier of disposable foodservice supplies, gloves and take-out packaging; the deal represents the firm’s seventh add-on acquisition since HCI’s investment.
Ross & Wallace is a manufacturer of paper grocer and merchandise bags, SOS grocery sacks and paper roll products. The firm delivers its products to the grocery, convenience store and foodservice industries.
“We are very excited the Ross & Wallace team has joined AmerCareRoyal,” said Scott Milberg, CEO of AmerCareRoyal. “This development significantly extends the scope and capability of the North American foodservice industry’s leading single-stream resource for disposable products.”
“Becoming a part of the AmerCareRoyal team provides Ross & Wallace with an exciting opportunity to combine our resources and utilize our shared values to begin the next chapter of growth,” said Megan Manning, Ross & Wallace CEO. “As a company with a proud history of committing to quality and customer service, we believe this acquisition positions both companies to better serve our customers.”
Greenberg Traurig served as legal counsel to ACR. Generational Equity acted as the financial advisor to Ross & Wallace and Seale & Ross, PLC served as legal counsel.