Platinum Equity adds to packaging M&A with the acquisition of WS Packaging
Platinum Equity has purchased WS Packaging Group Inc., a label and packaging service provider to small and large consumer product manufacturers. As part of the deal, the private equity firm will gain the 17 manufacturing facilities the target operates.
Headquartered in Green Bay, Wisconsin, WS Packaging Group supplies packaging materials for customers in the food and beverage, consumer packaged goods and pharmaceutical markets. The target manufactures sensitive label, label converters, shopper promotion and other branding materials intended to help increase shelf impact and shopper engagement for their client’s customers.
Dean Wimer, chief executive officer of WS Packaging Group, will remain with the company. Prior to Platinum Equity, WS Packaging Group was owned by J.W. Childs Associates LP. Financial terms of the acquisition were not disclosed.
Founded in 1995 by Detroit Pistons owner Tom Gores, Platinum Equity is a Los Angeles-based private equity firm with more than $6 billion in capital under management. The firm has completed more than 200 acquisitions since inception. Platinum Equity plans to contribute operation resources to WS Packaging Group,” according to the firm’s principal Jason Price, with plans of identifying and pursuing “new avenues for growth.”
Increased competition among grocery store chains have turned packaging distributors into hot targets across the middle market. Recent deals include: Wellspring’s purchase of food and beverage packaing distributor SupplyOne; Apax Partners’ acquisition of Tosca Services LLC; ProAmpac’s purchase of PolyFirst Packaging; Dade Paper & Bag Co.’s agreement to merge with Imperial Bag & Paper Co. LLC; and Sabert Corp.’s buying of Mullinix Packages Inc. from Mason Wells.