360Pack Announces Acquisition of Team Packaging and Continues Regional Expansion

Apr 12, 2024

VANCOUVER, Wash. & DENVER--(BUSINESS WIRE)--Aug 28, 2023--

360Pack, one of the fastest-growing privately held packaging distribution companies in North America, is pleased to announce that it has completed the acquisition of Team Packaging Inc. (“Team” or “Team Packaging”), a Colorado-based privately held custom packaging solutions provider. Terms of the transaction were not disclosed.

Backed by Shore Capital Partners (“Shore” or “Shore Capital”), a Chicago-based private equity firm focused on microcap investing, 360Pack combines local touch with global reach to deliver smarter packaging distribution solutions that improve customers’ bottom line by increasing profitability, improving efficiencies, and driving overall business growth. The partnership with Team Packaging is 360Pack’s third acquisition and further strengthens the platform’s position as the leading full-service packaging solutions provider in the Western United States.

Founded by Mike Anderson and Becki Charchenko in 2003, Team Packaging is a full-service, premiere custom packaging distribution business based in Aurora, Colorado. The company offers flexible and fiber-based packaging, labels, and equipment, as well as supply chain management, delivery and logistics, warehousing, and custom design services to customers across the food production, meat processors, retail grocers, and other end-markets. Anderson will continue to lead Team Packaging’s commercial strategy going forward.

“We are thrilled to be working with Kate Stock and the entire team at 360Pack in this new chapter for our business,” said Anderson. “360Pack and Shore Capital Partners have a unique partnership model that we found compelling, as it will allow us to continue supporting our customers with exceptional service while expanding our offerings through new innovation and additional investments in our current business.”

“At 360Pack, we partner with our customers to help them unlock the next phase of growth by delivering what they need, when they need it, and at the right price,” said Kate Stock, Chief Executive Officer of 360Pack. “We couldn’t be happier that Mike Anderson, Becki Charchenko and the talented employees at Team Packaging decided to join forces with us – our partnership enhances virtually every element of our combined businesses, from end-market expertise to product knowledge to services provided. With our collective resources, we are better positioned to find smarter solutions that help drive growth and profitability for our customers.”

Together, 360Pack and Shore Capital will continue to actively explore opportunities for organic growth and strategic partnerships.

“We are extremely proud that Mike and Becki chose to partner with 360Pack and Shore Capital,” said Richard Boos, Partner at Shore Capital. “We look forward to providing Team Packaging with resources they need to grow bigger, stronger and faster, and are confident that collectively we will achieve great things in the packaging space.”

To learn more about 360Pack, please reach out to [email protected].

About 360Pack

360Pack, backed by Shore Capital Partners, is one of the fastest-growing privately held packaging distribution companies in North America. Formed in 2021, 360Pack operates with the guiding vision of being the trusted packaging solutions partner of choice for its stakeholders. 360Pack combines local touch with global reach to deliver smarter solutions that enhance customers’ business. The Company currently has three locations covering the Western United States:

About Team Packaging

With over sixty years of combined experience in the packaging industry, Mike Anderson and his wife Becki Charchenko launched Team Packaging in September 2003. Since then, Team Packaging has grown into a 50,000 square foot warehouse and became a premier packaging supplier to food processors and manufacturers, retail grocers, as well as non-food enterprises. For more information on Team, please visit: http://www.teampkg.com/

About Shore Capital Partners

Shore Capital, a Chicago-based private equity firm with offices in Nashville, is an investor in microcap companies in the Healthcare, Food and Beverage, Business Services, Industrial, and Real Estate industries. Shore’s strategy is to support management partners to grow faster with less risk, through access to capital, world-class board and operational resources, and unmatched networking, development, and shared learnings across the portfolio. From 2020-2022, Shore received recognition from Inc. Magazine as a 3x Top Founder-Friendly Investor, and by Pitchbook research for being the global leader in Private Equity total deal volume. Shore targets investments in proven, successful private companies with superior management teams, stable cash flow, and significant potential to grow through industry consolidation and organic growth to generate value for shareholders. Shore has over $6 billion of assets under management and in additional investment platforms to which it provides business and operational consulting services. For more information, including with respect to these awards and investment platforms, please visit: www.shorecp.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20230828936618/en/

CONTACT: Shore Capital Partners

Jordan Niezelski, Edelman Smithfield

[email protected]

KEYWORD: WASHINGTON COLORADO UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: PACKAGING MANUFACTURING

SOURCE: Shore Capital Partners

Copyright Business Wire 2023.

PUB: 08/28/2023 09:00 AM/DISC: 08/28/2023 09:00 AM

http://www.businesswire.com/news/home/20230828936618/en

Copyright Business Wire 2023.

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