Acquisition increases DSS annual sales revenue to $17 million and allows Company to offer complete line of secure packaging containing DSS anti-counterfeiting technologies to multi-billion dollar marketplace
Document Security Systems, Inc. ("DSS") a world leader in the development, design and manufacturing of secure identification and authentication technologies for documents, packaging, labels, ID cards and electronic data and assists in the prevention of counterfeiting and brand fraud, announced today that it had acquired Premier Packaging Corporation ("Premier"), a privately held Victor, N.Y.-based provider of high quality packaging solutions.
Premier Packaging Corporation is an ISO 9001:2008 registered manufacturer of custom paperboard packaging serving clients in the pharmaceutical, beverage, photo packaging, toy, specialty foods and direct marketing industries, among others. An early innovator of upscale photo packaging, Premier has expanded their product offerings to include everything from basic mailers and sleeves to folding cartons and complex 3-dimensional solutions. Since 1989, Premier has been providing their customers with a complete range of products and services that include package design, prototyping, manufacturing, inventory management programs and more.
Robert Fagenson, DSS Chairman, commented: "The addition of Premier Packaging to the DSS family of companies is a major event for DSS for a variety of reasons. On a non-audited pro-forma basis, the combined companies showed 2009 sales of over $17 million, which significantly increases the size of DSS. We have worked together previously on a number of sales where our ability to offer customers the combination of printing, packaging and our proprietary anti-counterfeiting/security technology has proven very effective. The DSS Board has elected Premier's owner and CEO, Robert 'Bob' Bzdick to the offices of President and COO of DSS while he will also retain the position of CEO of Premier. Bob is a seasoned, successful and respected member of the Rochester business community and will provide valuable additional depth and experience to our management team."
Pat White, DSS CEO added: "In the traditional packaging world, the word 'Security' has mainly meant 'tamper proof' packaging. Based on our market research this acquisition gives DSS the ability to give a whole new meaning to 'Packaging Security' as we have created the world's first and largest packaging manufacturing company which utilizes Document Security Systems anti-counterfeiting optical deterrent technologies. In addition, I have known Bob Bzdick for quite some time and I have been excited about the prospect of combining our companies. I was also pleased that our Board agreed that the strategic and financial benefits of this transaction were too exciting to pass up. Having Bob as our President and COO is an added bonus that goes beyond the quantifiable financial benefits. I look forward to working with Bob as we continue to grow our new unique combined company."
