PRESS RELEASE - MAUSER PACKAGING SOLUTIONS' ACQUISITION OF CONSOLIDATED CONTAINER COMPANY, LLC

PRESS RELEASE - MAUSER PACKAGING SOLUTIONS' ACQUISITION OF CONSOLIDATED CONTAINER COMPANY, LLC

PR Newswire

OAK BROOK, Ill., Feb. 2, 2024

OAK BROOK, Ill., Feb. 2, 2024 /PRNewswire/ -- Mauser Packaging Solutions ("Mauser" or "the Company"), a leading global supplier of rigid packaging products and services, announced today that on February 1, 2024, it completed the acquisition of substantially all the assets of Consolidated Container Company, LLC, a manufacturer, reconditioner and distributor of industrial containers and provider of recycling and related services ("Consolidated Container").  With facilities in Minneapolis, Minnesota and Kansas City, Kansas, the acquisition is expected to be highly complementary to Mauser's existing business. 

"The acquisition of Consolidated Container complements the Mauser product and service portfolio in many ways and creates tremendous opportunity for our customers, employees, and suppliers," said David Vergo, President of Mauser's North America Industrial Packaging segment. 

"This is an exciting addition to the Mauser franchise, both for our customers and our shareholders," added Mark Burgess, CEO of Mauser Packaging Solutions.  "Consolidated Container brings an expanded geographical footprint and opportunities to improve efficiencies in our reconditioning business.  We expect this transaction to be margin accretive before synergies, with multiple levers for shareholder value creation."

Mauser paid $56 million in cash as consideration, funded from cash on hand.  The final purchase price remains subject to customary post-closing adjustments.

Mauser Packaging Solutions, an affiliate of Stone Canyon Industries LLC, is a global supplier of rigid packaging products and services.  The Company currently operates manufacturing locations in over 20 countries serving industry-leading customers on an international basis.

This press release contains forward-looking statements that are subject to substantial risks, uncertainties and assumptions. You should not place reliance on these statements.  These statements often include words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," "seek," "will," "may" or similar expressions. Such forward-looking statements include, but are not limited to, statements about the expected benefits of the acquisition, including future financial and operating results, and our plans, objectives, expectations and intentions.  These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict.  For example, these forward-looking statements could be affected by factors including, without limitation, the ability to realize anticipated benefits and synergies of the acquisition; the potential impact of announcement of the transaction or consummation of the acquisition on relationships, including with employees, customers and competitors; and the amount of the costs, fees, expenses and charges related to the acquisition.

In light of these risks, uncertainties and assumptions, the forward-looking statements contained in this current report might not prove to be accurate and you should not place undue reliance upon them.  All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements.  All such statements speak only as of the date made, and we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

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SOURCE Mauser Packaging Solutions