USA – The Ohio Art Company has successfully acquired Allstate Can Corporation, a preeminent specialty tin can manufacturer.
Facilitated by investment banking advisor Parcrest Advisors, the transaction involves the complete divestiture of Allstate’s assets to Ohio Art.
Based in New Jersey, USA, and operating an additional manufacturing and distribution center in Nevada, Allstate Can Corporation has been a pivotal figure in the specialty tin can market for over a century.
As a family-owned enterprise overseen by the Papera family for three generations, it has carved a distinctive niche with a customer-centric sales team.
The company caters to over 20 diverse end markets, excelling particularly in sectors such as Chemicals & Petroleum, Cookies & Candy, and Children’s Entertainment Products.
Despite encountering economic recessions throughout its history, Allstate Can Corporation has consistently achieved sales growth and enhanced profitability.
The company’s proficiency in delivering top-tier packaging solutions has cultivated a steadfast customer base, facilitating continual expansion of its business relationships.
Richard ‘Rick’ Papera and Ronald ‘Ron’ Papera, the third-generation custodians of Allstate Can Corporation, express their contentment with the deal, underscoring Parcrest Advisors’ exemplary expertise in the mergers and acquisitions process.
The Papera family’s enduring legacy, coupled with Ohio Art’s strategic orientation, aligns seamlessly with their shared commitment to delivering superior products and services.
Elena West, CEO of the Ohio Art Company, highlights the acquisition as a pivotal move in the company’s strategic focus.
This strategic maneuver empowers both entities to address burgeoning customer demands, devise production strategies, and provide an all-encompassing array of metal packaging solutions.
The collaboration is perceived as an ideal match, uniting two entities characterized by longstanding dedication to professionalism and quality within their respective domains.
ACR acquires flexible packaging supplier TTM
In a similar move, AmerCareRoyal (ACR), a provider of disposable foodservice materials, has successfully acquired Thermosource Tooling and Manufacturing (TTM), a US-based packaging solutions supplier.
TTM specializes in supplying thermoformed and flexible packaging solutions across various sectors, primarily in the foodservice industry, utilizing multiple shipping points nationwide.
This acquisition positions ACR to diversify its product lines and customer segments, strengthening its branded and customized packaging solutions portfolio. Additionally, TTM’s expertise is expected to augment ACR’s offerings and solidify its standing in the market.
ACR CEO Scott Milberg states, “TTM’s remarkable design and engineering capabilities, particularly in unique packaging formats, complement our existing product lines and capabilities. This enables us to present a more comprehensive offering to our combined customer base.
“The inclusion of TTM under the AmerCareRoyal umbrella presents significant cross-selling opportunities, especially in segments where expansion has been a priority, while concurrently expanding the product offering available to TTM’s customers.”
TTM marks the ninth add-on acquisition for AmerCareRoyal since the initial investment by private equity firm HCI Equity Partners. The financial terms of the transaction remain undisclosed.
HCI Managing Partner Doug McCormick remarks, “The TTM acquisition exemplifies our strategy of fostering growth through highly strategic acquisitions for our portfolio companies.
“We are enthusiastic about the potential TTM brings to enhance ACR’s service offerings and market positioning and extend a warm welcome to the talented TTM team.”
Greenberg Traurig served as the legal counsel to ACR, while Jeffer Mangels Butler & Mitchell acted as legal counsel to both ACR and TTM during the transaction.
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