Food packaging distributor Dade Paper & Bag Co. has reached an agreement to merge with Imperial Bag & Paper Co. LLC, a distributor of disposable food service and janitorial supplies. The combined business will have more than $1 billion in total revenue.
Founded in 1939, Dade Paper manufactures foodservice disposable products and janitorial supplies. The company’s products are used by restaurants, supermarkets, cruise lines, hotels and motels, schools, convention centers, stadiums and other food-serving establishments. Dade Paper primarily services the Southeast and Mid-Atlantic markets spanning from Florida to Maryland. The newly-merged company benefits from geographic expansion and will be able to offer a broader portfolio of products, according to Dade Paper COO Frank Sansone.
“The combined business will continue to focus on acquiring great companies with exceptional teams," states Jason Tillis, president of Imperials. "We look forward to working with Frank and his team to continue building the business through new customers, additional products and services, and acquisitions."
Imperial, based in Jersey City, New Jersey, also distributes food service and janitorial supplies for supermarkets, “grab and go” convenience stores, stadiums and foodservice companies. Founded in 1935, Imperial was purchased in 2007 by Tillis and the company’s current CEO Robert Tillis. The newly combined business brings together a network of customers in the tristate, Northeast, Southeast and Mid-Atlantic regions. The merger is expected to close by the end of June.
Other food container and packaging products deals include: Sabert Corp.'s buying of Mullinix Packages Inc. from Mason Wells; Packaging Corp. of America’s (NYSE: PKG) acquiring another maker of corrugated products, TimBar Corp.; and Novolex's, backed by Wind Point Partners and minority investor TPG Growth, purchasing of Heritage Bag Co., a maker of trash bags, food storage bags, medical waste bags and ice bucket liners. Harris Williams & Co. is serving as financial adviser to Dade Paper, while Akerman LLP is serving as legal adviser.