USA – Specialty packaging distributor Veritiv has acquired all assets of PAX Global, a U.S.-based provider of custom packaging solutions known for its design, prototyping, and prepress printing capabilities.
PAX Global, headquartered in Illinois, generates approximately US$45 million in annual revenue and serves a diverse customer base in personal care, food, and pharmaceutical sectors.
This acquisition strengthens Veritiv’s design and international sourcing capabilities, particularly in folding cartons and film converting, enhancing Veritiv’s ability to offer end-to-end packaging services.
Veritiv CEO Sal Abbate expressed optimism about the acquisition, stating, “The acquisition represents an investment in building on our industry-leading packaging distribution capabilities by enhancing our design and international sourcing capabilities and establishing new competencies in folding carton and film converting.
“It advances our efforts to create a national platform to better serve customers and further expands our position as the leading specialty provider of value-added packaging products and solutions from design to delivery.”
PAX Global’s workforce spans multiple locations across the U.S., including Naperville, Burlington, and Centennial, as well as in Shenzen and Hong Kong.
Its family of companies, which includes Doran & Ward, DCP International, and Pioneer Packaging, now joins Veritiv’s extensive network, bringing PAX Global’s capabilities and customer relationships under Veritiv’s umbrella.
Bruce Caldwell, President of PAX Global, shared, “We are excited to join the Veritiv team and the opportunity it provides to expand our services and reach through Veritiv’s established commercial infrastructure, packaging procurement and distribution expertise, and enhanced design and testing capabilities.”
Monomoy acquires Oliver Packaging and Equipment
Meanwhile, private investment firm Monomoy Capital Partners has acquired U.S.-based Oliver Packaging and Equipment, a manufacturer known for its compostable and recyclable meal trays and films used in markets like education and grocery.
Oliver has a strong presence across North America, supported by a robust portfolio of packaging equipment and consumables.
Under Monomoy’s ownership, Oliver’s existing management team, led by CEO Mitch Summerfield, will remain in place.
Summerfield expressed confidence in the partnership, saying, “Monomoy’s operational value-add in similar businesses and experience in packaging represent a differentiated opportunity to grow Oliver as an independent platform.
“This partnership adds valuable resources that will allow us to achieve our growth initiatives while maintaining a steadfast commitment to our existing customers.”
Monomoy’s acquisition strategy focuses on strengthening its middle-market presence through corporate carve-outs, which recently included Waupaca Foundry from Proterial and Valtir from Trinity Industries.
Monomoy director Matt Farrell commented, “Our partnership with Oliver aligns well with Monomoy’s experience in carve-outs and the packaging sector.
“Together with the management team, we have already identified significant product, customer, and end-market expansion opportunities, which we plan to execute through organic growth initiatives and strategic add-on acquisitions.”
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