Baird has advised MidCon Holdings, a portfolio company of private equity firm Arbor Investments, on its sale to Green Bay Packaging.
Terms of the transaction, which closed on 31 October, have not been disclosed.
Justin Albert, managing director, head of Baird’s packaging investment banking team and lead banker on the transaction, says: “This transaction is the most recent example of accelerating consolidation in the corrugated packaging space. An increasingly competitive environment among corrugated packaging suppliers is driving consolidation as companies seek to build market share, diversify product offerings and expand footprints to increase scale and maintain operational efficiency. That’s certainly the case with this transaction, which broadens Green Bay Packaging’s capabilities and geographic reach, enabling the new company to expand its presence with its customer base.
“We believe this deal is the most recent example of increasing consolidation in the space, and we expect that activity to unfold rapidly heading into 2015.”
MidCon, with operations in Franksville, Wisconsin (Midland Container) and Germantown, Wisconsin (Great Lakes Packaging), is a provider of corrugated containers, point-of-sale packaging and point-of-purchase displays to a wide range of food, beverage and industrial customers.
Headquartered in Chicago, Illinois, Arbor Investments is a private equity firm that focuses exclusively on acquiring companies in the food, beverage and related industries.
Green Bay Packaging is a family-owned, vertically integrated company consisting of corrugated container plants, folding cartons, recycled and virgin linerboard mills, pressure-sensitive label rollstock, specialty converting operations, timberlands and a sawmill facility.
