RockTenn Acquires Mid South Packaging
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RockTenn, Norcross, Ga., USA, this week closed on its acquisition of the assets of Mid South Packaging LLC, a specialty corrugated packaging manufacturer with operations in Cullman, Ala., and Olive Branch, Miss., from Coridel Capital Partners, New York, N.Y. Mid South is comprised of three main segments: AutoLogic™, which supplies specialized packaging to the automotive parts industry; the ComboPAC™ Food Group, which supplies bulk boxes to the poultry and meat industries; and the Retail Design Group, which provides high-end corrugated packaging and retail displays to consumer packaged goods companies.
"The acquisition of Mid South, a company well-known for its profitable business model and efficient, well-run operations, is in keeping with our announced strategy to seek acquisitions that increase our integration level," said James A. Rubright, RockTenn's chairman and CEO. "Adding Mid South's unique customers to RockTenn's already diversified customer base further strengthens our market reach."
Tyler Kwon, chairman and CEO of Coridel, noted hat "it has been a privilege to partner with the Mid South management team as they built a robust company, making significant operational improvements, growing revenues, and delivering record earnings year after year during our investment period. This transaction demonstrates the significant value that has been created. I am confident that under the leadership of the RockTenn organization, Mid South will continue its tradition of excellence and innovation."
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