TricorBraun Inc., a leading packaging solutions company, has acquired Package All Corp. (packageall.com), a 33-year-old healthcare-focused packaging distributor headquartered in Bayport, New York. As a result of this transaction, Package All has become a wholly-owned subsidiary of TricorBraun but will continue to be led by its current executive team.
"Package All has significant expertise in rigid packaging for the healthcare industry," said Keith Strope, Executive Chairman of TricorBraun. "We are excited about the opportunities this acquisition creates to provide customers of both companies with expanded services."
Package All is a leading stocking distributor to the over-the-counter (OTC) generic pharmaceutical and nutraceutical industries, also providing packaging to several other industries, including personal care and beauty, sports and fitness, food and beverage, and household and industrial.
"There is strong equity in the Package All name and business model, created by founder Drew Weidhorn and by Phil Padgett as President and CEO, and we will continue using both," said Strope. "We want to capitalize on the strong legacy built by Drew and Phil."
"The acquisition will be seamless," said Court Carruthers, President and CEO of TricorBraun. "Everything will be business as usual, with new momentum. We want to leverage Package All's business model and grow with it. Package All's seven locations and more than 350,000 square feet of warehouse space will expand TricorBraun's overall offering."
Phil Padgett said, "We are extremely proud of the company we and our teammates have built together. Partnering with TricorBraun is an exciting next step in our successful history of growth. It will provide Package All and our customers immediate access to new products, a larger supply chain, and expanded services, such as design and engineering."
"We are highly focused on the further expansion of products and services for our customers," said Carruthers. "Package All is a great company and we're proud to welcome Phil Padgett, his executive team and every Package All team member to the TricorBraun family."