Thermoformer Anchor Packaging to partner with a private equity firm
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Anchor Packaging LLC, one of North America's largest manufacturers of specialty food packaging used by restaurants and supermarkets for delivery and take-out meals, announced the first stage of its strategic plan to accelerate growth through a partnership with The Jordan Company, a private equity firm with over 30 years' experience in aligning themselves with company management to build value.
"Anchor has achieved outstanding organic growth, tripling its revenue in the past 15 years, said Jeffrey Wolff, President and CEO of Anchor. "Now, we are talking about transformative growth – broadening our geographic reach through additional manufacturing facilities, new and complementary product lines to better serve our customers, and new materials to offer our customers a broader set of solutions".
Under the terms of the partnership, The Jordan Company will become investors in Anchor, however, the Hermann family, who has owned Anchor for 56 years, will continue to have ownership as well.
"Anchor has been, and continues to be, a family business" stated Robert Hermann Jr. "We are excited to partner with The Jordan Company to help fuel Anchor's continued growth and increase our trajectory. The Jordan Company possesses many of the same values, ethics, and long-term orientation that has been a hallmark of Anchor."
The transaction is expected to close in July, 2019, subject to customary closing conditions.
About the company
Based in St Louis, MO, Anchor Packaging LLC is one of the largest thermoformers in North America and best-known for its award-winning product designs and custom capabilities. Anchor Packaging's products include Crisp Food Technologies® containers that keep fried foods hot & crispy for 30-minute home delivery, Safe Pinch® Tamper-Evident containers, as well as affordable packaging for restaurant take-out and to merchandise prepared ready-to-heat meals in supermarkets. Anchor's unique stock product line includes over 450 rigid packaging and cling film products.
