ATLANTA--(BUSINESS WIRE)--Crown Paper Group, Inc. has acquired Montebello Container Corporation, an independent corrugated sheet producer based in Southern California. The closing date was September 22, 2015.
Montebello operates three facilities in metropolitan Los Angeles: a sheet feeder (in La Mirada), a sheet plant (in Santa Fe Springs), and a specialty sheet feeder (in Pico Rivera).
Montebello President Anthony Salcido and Vice President John Salcido will continue to lead Montebello Container. They said, in a joint statement, “Joining Crown will benefit our customers in three ways: First, it will enable us to continue providing our customers with the levels of product quality, timeliness and responsiveness that they demand and have come to expect from us. Second, it will enable us to ensure our customers’ product continuity via Crown’s Port Townsend Paper mill. Third, it will provide us with access to Crown’s team of executives, who have a track record of building excellent packaging businesses, and access to ample capital to invest in upgrades to operations.”
Crown Paper Group Chief Executive Officer Steve Klinger said, “The Crown executive team is energized by the opportunity to work with the Montebello team. We have immense respect for the Salcido family and the fine business that they have built over five decades. To them, we will bring our own track record of engaging employees in involved, productive and safe workplaces, and exceeding customer expectations.”
Crown’s acquisition of Montebello follows Crown’s initial acquisition of Port Townsend Paper, Crown Packaging, and Boxmaster in February 2015, and is part of its strategy to build an independent, integrated, high-performing North American packaging business.
Crown Paper Group is a holding company for investments in the paper and packaging industries. Its executive leaders have worked together in the paper and packaging industry for a century and a half collectively building high performance businesses.
Crown has the resources to invest in building businesses over the long term. It was created in 2015 by Lindsay Goldberg, an investment firm that manages $14 billion of equity capital, partners with well-managed businesses, and actively helps them build long term value.
Montebello’s financial advisor for the acquisition was Andre Guardi, Senior Managing Director and Founder of 555 Capital Advisors, LLC, who initiated the transaction with Crown.
Crown Paper Group facilities and locations:
|Containerboard, Kraft and Pulp Mill||Port Townsend WA|
|Sheet Plant||Vancouver BC|
|Box Plant||Vancouver BC|
|Sheet Plant||Santa Fe Springs CA|
|Sheet Feeder||La Mirada CA|
|Specialty Sheet Feeder||Pico Rivera CA|
Click here for Crown Paper Group Map