Mill Rock Packaging Partners, a packaging company that invests in companies with service and product capabilities in the consumer packaging industry and formed by Mill Rock Capital, has acquired Keystone Paper & Box Company, a packaging company that manufactures custom folding cartons for consumer and healthcare end markets.
Keystone, based in South Windsor, Conn. and founded in 1944, is a paperboard packaging company focused on multi-SKU design-centric packaging services, including product engineering, protoyping and production. In connection with the transaction, Keystone’s leadership team has made a significant investment in Mill Rock Packaging. Management will remain with the company. The transaction marks Mill Rock Packaging’s expansion to the eastern U.S. and its fourth acquisition.
“Through our partnership with Mill Rock Packaging, our customers will gain access to high-quality production facilities in the Midwest and West Coast,” says Jim Rutt, president of Keystone. “I am delighted that Mill Rock Packaging shares our commitment to quality, integrity and service, and I look forward to future growth leveraging our combined resources.”
Alvarez & Marsal, White & Case LLP and Finnea Group advised Mill Rock Packaging on the transaction. Ben Markens advised Keystone Paper & Box.