ACR Acquires Molded Fibre Packaging Supplier Ultra Green

ACR (AmerCareRoyal, LLC) acquired Ultra Green Packaging, a supplier of molded fibre foodservice packaging based in Mound, Minnesota. It is ACR’s twelfth add-on acquisition since partnering with Oridian Capital Partners.

Ultra Green supplies products including take-and-bake pizza trays, sushi trays and bakeware. Its molded fibre expertise will extend ACR’s PrimeWare range and broaden the group’s compostable packaging offering for foodservice, grocery and retail customers.

Scott Milberg, Chief Executive Officer of ACR, said customer demand for sustainable packaging was continuing to increase across foodservice and grocery channels. Ultra Green would strengthen the group’s ability to respond to that demand, and its products could now be brought to a wider grocery and retail customer base.

“Their molded fiber capabilities and compostable packaging credentials complement our existing portfolio well,” Milberg said.

Brendon Biddle, Managing Director at Oridian Capital Partners, described Ultra Green as an established business with a specialist market position and a product portfolio that fitted ACR’s acquisition strategy. He said the complementary nature of the two businesses, together with ACR’s infrastructure and customer relationships, created opportunities for growth across the combined operation.

Kristin Davidson, President and Owner of Ultra Green Packaging, said that since taking ownership of the company, its priorities had been packaging performance, customer service and rigorous sustainability standards. Joining ACR would allow those commitments to reach a broader customer base while maintaining the service, quality and compliance standards on which Ultra Green had built its business.

Davidson will remain involved following the acquisition, together with key members of the management team. Greenberg Traurig acted as ACR’s legal adviser. Tamarack Advisory Partners advised Ultra Green financially, with Taft providing legal counsel.

Ultra Green Packaging is headquartered in Mound, Minnesota, and designs and distributes its own range of fibre-based packaging and recycled polyethylene terephthalate (rPET) lids. It supplies foodservice, grocery and institutional customers.

ACR supplies packaging, food-preparation products and operational essentials to foodservice, janitorial, sanitation, education, industrial, hospitality and healthcare customers. Its North American network includes multiple shipping points serving customers at national level.

Oridian Capital Partners, formerly HCI Equity Partners, is a Washington, D.C.-based private equity firm focused on lower-middle-market, family-owned and founder-owned businesses in services, distribution and manufacturing. Its approach includes investment in large, stable but fragmented North American markets, with growth pursued through acquisitions, consolidation and operational improvement.

Source: PapNews