AEA Investors LP has reached an agreement with CHS Capital to acquire portfolio company TricorBraun Holdings Inc., a distributor of glass and plastic packaging products, for an undisclosed amount.
TricorBraun, founded in 1902 and headquartered in Fairfield, California, is a North American supplier of glass and rigid plastic containers, closures, dispensers, and tubes to businesses worldwide. In addition to the manufacturing itself, the target operates an advisory service that includes preliminary planning and global sourcing, packaging consultation, repacking, and manufacturing oversight. TricorBraun also offers WinePak Direct, the target’s wine distribution service for clients looking to order at least 100 cases of 750 milliliter bottles. Some of the target’s clients include: Goose Ridge Estates’ StoneCap Wines, King Estate Winery’s Oregon Pinot Gris, and Ponzi Vineyards’ Willamette Valley Wines.
AEA is a New York-based middle-market private investment firm with offices in Stamford, Connecticut, London, Shanghai and Munich. The firm focuses on private equity and debt investments in core sectors such as specialty chemicals, consumer goods, retail services, and industrial products. AEA manages approximately $10 billion of invested and committed capital including buyouts, mezzanine and senior debt investments.
CHS Capital, founded in 1988, is a Chicago private equity firm with approximately 74 platform investments. The firm has completed 325 add-on acquisitions since its inception. Some of the seller’s investments include Beacon Roofing Supply Inc., Coleman Cable Systems Inc., Connor Sports Flooring Corp., and AMF Bowling Worldwide Inc.
Recent glass and packaging deals include: CVC Capital Partners’ $1 billion deal to buy Anchor Glass Container Corp., a manufacturer of bottle packaging products, from KPS Capital Partners LP; Vitro S.A.B. de C.V.’s purchasing of the flat glass manufacturing operations of PPG (NYSE: PPG); and LKQ Corp.’s (Nasdaq: LKQ) agreement to buy automotive glass maker Pittsburgh Glass Works LLC.