TricorBraun Inc. is buying Packaging Solutions Inc., a rigid packaging distributor based in Minneapolis.
Packaging Solutions provides packaging for the pharmaceutical, pet food and personal care sectors.
St. Louis-based TricorBraun calls itself North America's largest distributor of primary packaging, including plastic and glass containers, closures, dispensers, tubes and flexible products.
With 50 global locations, the company also provides design as well as sourcing manufacturing oversight and supply chain services.
"Our acquisition of PSI strengthens our Minneapolis presence as we continue to grow across North America," TricorBraun CEO Court Carruthers said in a statement.
Packaging Solutions employees, including owners Doug Greenberg and John Greenberg, will continue to work for the acquired operation, which is adopting the TricorBraun name.
PSI supplies plastic bottles and jars, tubes and tube caps, caps and closures and pails, drums and carafes as well as offering glass bottles and jars and decorating services.
TricorBraun is owned by AEA Investors LP, a firm established by Rockefeller, Mellon and Harriman family members as well as S.G. Warburg & Co. AEA describes itself as "a private investment vehicle for a select group of industrial family offices with substantial assets."
The investment firm has grown to now include more than 75 investors, including industrial families, business executives and former government leaders.
