PEP Portfolio Company Revere Completes Add-on Acquisition

Dallas, TX – Revere Packaging, a portfolio company of Progress Equity Partners, Ltd. is pleased to announce its recent acquisition of Plastic Package, Inc.

Revere Packaging, in business for more than 60 years, is a niche provider of custom recyclable aluminum and plastic packaging solutions to the food services industry. Plastic Package, Inc. produces proprietary and custom trays and containers primarily to the bakery, confectionary, pre-packaged meals and school nutrition markets.

“With more than 150 employees and over $40 million in annual revenues, the newly-combined entity will more than double the size of sales, employees, and manufacturing capacity,” commented David Watts, CEO of Revere Packaging. “This will translate to shorter lead times, faster delivery, and the availability of a broader product mix for our customers.”

Mike Miller, President of Plastic Package remarked, “This partnership reflects our shared philosophy of providing exceptional, sustainable packaging solutions with an unparalleled level of service to our customers. We’re proud to be a part of this revolutionary company.”

Progress Equity partnered with Stonehenge Partners and Texas Capital Bank in completing the transaction.

About Revere Packaging, LLC

Revere, founded in 1801, provides customers with a creative and innovative source of recyclable plastic and aluminum food packaging solutions delivering customization, flexibility and exceptional speed-to-market products. Revere is certified in food safety by the Safe Quality Food Institute (SQFI). For more information, please visit http://www.reverepackaging.com or follow @ReverePackaging on Twitter.

About Plastic Package, LLC

Plastic Package (headquartered in Sacramento, California) produces proprietary and custom trays and containers primarily for the bakery, confectionary, prepackaged meals and school nutrition markets. Plastic Package is inspected annually by the National Sanitation Foundation (NSF), an independent quality auditor. For more information, please visit http://www.plasticpack.com.

 

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