Foodservice packaging provider D&W Fine Pack LLC inked an agreement to acquire CM Packaging Group, Lake Zurich, Ill. The deal, which is expected to close in late November, is subject to regulatory approval and an affirmative vote by the participants in the CM Packaging’s Employee Stock Ownership Plan (ESOP).
Comprised of three business units–CM Packaging, Stone Plastics and PDI–CM Packaging Group manufacturers rigid plastic thermoformed containers and aluminum containers serving the bakery, grocery, restaurant, produce and food processor markets. Among the company's most popular brands are Bake King®, Bio7PLA, Cater King®, ClearLock™ and PDI.
The acquisition will advance D&W’s plan to be a national supplier of disposable foodservice containers. The CM Packaging Group's business will add five manufacturing locations. Following the acquisition, revenues will approach $400 million. The company will employ 1,600 and operate from 11 locations in the U.S. and Canada.
"D&W Fine Pack is committed to being a full-service supplier for its customers," Mark Staton, president and CEO of D&W Fine Pack, said in a statement. "Adding CM Packaging Group's offerings to our substantial product suite allows us to present customers with greater choice and flexibility to meet evolving demands in the foodservice and food packaging markets."
