North American packaging and containers distribution company 360Pack has announced the acquisition of Team Packaging, a private custom packaging solutions provider.
The companies have not disclosed the financial terms and other details of this transaction.
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This deal marks the third acquisition by 360Pack, which is backed by equity business Shore Capital Partners.
The addition of Team Packaging to its portfolio will allow 360Pack to expand its products and services offerings while strengthening its position as a full-service packaging solutions provider in the Western US region.
Following this acquisition, Team Packaging’s co-founder Mike Anderson will continue to lead the company’s commercial strategy.
Anderson said: “We are thrilled to be working with Kate Stock [360Pack CEO) and the entire team at 360Pack in this new chapter for our business.
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By GlobalData“360Pack and Shore Capital Partners have a unique partnership model that we found compelling, as it will allow us to continue supporting our customers with exceptional service while expanding our offerings through new innovation and additional investments in our current business.”
Based in Aurora, Colorado, Team Packaging is a full-service custom packaging distribution company, which provides labels and equipment, flexible and fibre-based packaging solutions along with delivery and logistics services, warehousing, and supply chain management support.
It also offers a range of custom design services to brands and companies such as food production businesses, meat processors, retail grocers, as well as non-food enterprises and end-market industries.
Stock added: “We could not be happier that Mike Anderson, Becki Charchenko and the talented employees at Team Packaging decided to join forces with us – our partnership enhances virtually every element of our combined businesses, from end-market expertise to product knowledge to services provided.
“With our collective resources, we are better positioned to find smarter solutions that help drive growth and profitability for our customers.”
