Packaging leader TricorBraun today announced that it has acquired Minneapolis-based Packaging Solutions, Inc. (PSI), a rigid packaging distributor serving several markets, including pharmaceutical, pet food and personal care.
With 25 years of packaging expertise, PSI has a stellar industry reputation and long-standing customer relationships. The acquisition bolsters TricorBraun's position in the Minneapolis market, providing an additional warehouse for continued growth.
"Our acquisition of PSI strengthens our Minneapolis presence as we continue to grow across North America," said Court Carruthers, president and CEO, TricorBraun. "We look forward to serving our customers in this region with exceptional products and services, and we welcome PSI to the TricorBraun family."
PSI team members, including owners Doug Greenberg and John Greenberg, will remain with TricorBraun and the team will continue to work out of the company's existing location. Effective with the acquisition, the Packaging Solutions, Inc. name has been retired and the company will operate as TricorBraun.
"For more than two decades, we've made our mark on the packaging industry and we are excited to start our next chapter with TricorBraun," said Doug Greenberg, president, Packaging Solutions, Inc. "Given our shared focus on the customer, TricorBraun is a natural home for PSI. With TricorBraun's industry-leading custom design solutions and expansive supplier base, we are delighted to offer expanded packaging services and solutions to our customers."
A portfolio company of leading global private investment firm AEA Investors, TricorBraun is the packaging industry's acquirer of choice, having acquired and successfully integrated more than 20 companies over the last 25 years. PSI marks the company's seventh acquisition in the last three years, during AEA's ownership.
Terms of the agreement were not disclosed.