Coregistics, a contract packaging company, has announced the acquisition of Belvika Trade & Packaging, a full-service provider of contract packaging solutions.

This move is claimed to establish Coregistics as the 'largest' pure-play contract packaging company in North America by both scale and revenue.

Red Arts Capital, the parent company of Coregistics, financed the acquisition through its flagship fund, Red Arts Capital Opportunity Fund I, with additional co-investment from limited partners, family offices, and strategic investors.

Coregistics was acquired by Red Art Capital in June 2022.

Coregistics now has a revenue of approximately $350m and operates over a three-million-square-feet footprint in North America.

Coregistics executive chair Victor Crawford said: “This acquisition marks a pivotal moment for Coregistics as we expand our footprint and reinforce our position as a leader in the contract packaging industry.

“We are thrilled to see the Belvika team continue to be a part of the business and are excited to welcome them to the Coregistics family. Their deep industry insights and proven track record of success will be invaluable as we continue to deliver exceptional packaging and logistics solutions to our valuable customers.”

The Belvika team is expected to strengthen Coregistics' future operations as part of Red Arts Capital's value-creation strategy.

The acquisition was supported by debt financing from Brightwood Capital Advisors, Prudential Capital Partners, and Main Street Capital Corporation.

Legal advisory services were provided by Greenberg Traurig and Osler alongside Hoskin & Harcourt for Red Arts Capital while Houlihan Lokey acted as the financial advisor to Belvika.