Igloo Products sold to private equity firm

By Frank Esposito
Senior Staff Reporter

Published: April 4, 2014 1:46 pm ET
Updated: April 4, 2014 1:50 pm ET

Igloo's guard shack at the firm's headquarters has a familiar look. (Igloo Products Corp. photo)

Related to this story

Topics Consumer Products, Mergers & Acquisitions

Iconic plastic products maker Igloo Products Corp. has been sold to private equity form ACON Investments of Washington.

No sale price was listed in an April 2 news release from investment bank Robert W. Baird & Co. Inc., which assisted Igloo on the sale. Katy, Texas-based Igloo had been owned since 2008 by private equity firm J.H. Whitney Capital Partners of New Canaan, Conn.

Whitney will retain a small stake in Igloo.

Igloo is best known for its line of coolers. The firm says it’s the top cooler brand in sales and the top brand in consumer recognition. Company officials estimate that Igloo it makes 20 million products in Katy each year.

In a March 31 news release, ACON founding partner Ken Brotman said that his firm “is excited to have the Igloo brand and its accomplished leadership team join ACON’s portfolio of companies.” He added that Igloo “has demonstrated solid performance through its long-tenured relationships with its customers and has built a strong foundation for continued success and expansion through its core products.”

In the same release, Igloo Chairman and CEO Gary Kiedaisch said that Whitney “has been an excellent partner for Igloo’s initial growth strategy, helping us achieve exceptional organic growth over the past five years.”

He added that the Igloo management team “is looking forward to working with ACON to further grow and leverage the extensive platform the company has established.”

ACON “brings fresh capital and resources to Igloo, and their diversified portfolio and expertise provides Igloo with the ability to penetrate new markets and categories through product extensions and acquisitions,” Kiedaisch said.

In January, Igloo management said that the firm had hired 250 more workers in late 2013 and that it was in the process of opening a new warehouse and distribution center in Texas. The opening of a 420,000-square-foot distribution center and warehouse in Katy will bring Igloo's base there up to 1.8 million square feet of production, development and shipping space. The site also will be able to accommodate future expansion.


Comments

Igloo Products sold to private equity firm

By Frank Esposito
Senior Staff Reporter

Published: April 4, 2014 1:46 pm ET
Updated: April 4, 2014 1:50 pm ET

Post Your Comments


Back to story


More stories

Image

Ferro acquires TherMark Holdings for $5.5 million

February 26, 2015 12:15 pm ET

Ferro Corp. said it acquired privately held TherMark Holdings Inc., a laser marking technology company, for $5.5 million in cash.    More

Image

Serbia puts Krušik-Plastika up for sale

February 26, 2015 11:39 am ET

The Serbian Privatization Agency has launched the privatization process for local plastics maker Krušik-Plastika. The agency says it is...    More

Image

3i to sell specialty chemicals company Azelis to Apax Partners

February 26, 2015 11:36 am ET

Azelis Holding SA, the specialty chemicals distributor, is being sold by its private equity owners 3i Group plc to another private investment outfit, ...    More

Image

Amut buys Dolci and Bielloni

February 25, 2015 3:41 pm ET

Amut SpA, the Novara, Italy-based maker of extruders, thermoforming machines and plastics recycling equipment, has acquired the Italian company that...    More

Image

Tekni-Plex buying Galazzi pharmaceutical film and tape units

February 25, 2015 3:13 pm ET

Italy's Tekni-Plex Europe NV, a subsidiary of U.S.-based Tekni-Plex Inc., has announced that its plan to acquire Gallazzi SpA's Italian-based pharmace...    More

Market Reports

Flexible Packaging Trends in North America

North America represents about 30 percent of the global consumption of flexible packaging. Annual growth in this region is forecast at 4 percent during the next 5 years.

For more insight on growth opportunities, drivers of growth and the outlook for 2015, download this report.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 billion plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Upcoming Plastics News Events

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events