Multi Packaging Solutions Announces Acquisition of Innovative Creative Packaging Solutions
March 25, 2008
Multi Packaging Solutions, Inc. (“MPS”), a specialty print and packaging company, and a portfolio company of BSMB, today announced that it has completed the acquisition of Innovative Creative Packaging Solutions.
Innovative Creative Packaging Solutions (“Innovative”), headquartered in South Plainfield, NJ, is a high-quality supplier of custom folding cartons, promotional packaging and digital labels for the Pharmaceutical, Nutraceutical, Medical Devices, and Cosmetic markets. The acquisition provides Innovative Creative Packaging Solutions with product and technology synergies and offers MPS complementary capacity to support its growing customer base. MPS simultaneously signed the acquisition agreement and closed the transaction on March 20th. Terms of the transaction were not disclosed.
Marc Shore, Chief Executive Officer of MPS commented, “Innovative Creative Packaging Solutions strongly complements our existing offering by expanding our manufacturing footprint to include a strategic presence in the Northeast for our healthcare and cosmetics clients. They have an experienced and entrepreneurial management team with a proven track record of customer focus and innovation. We look forward to working with them for continued growth in our target markets.”
Shawn F. Smith, President and CEO of Innovative Creative Packaging Solutions, stated, “We are excited about joining Multi Packaging Solutions, which allows us to offer a comprehensive product line with multiple plant locations, leading ink and coating technologies along with extensive creative and technical resources to new and existing customers.”
“Innovative is a great fit with Multi Packaging Solutions” said Phil Carpenter, Senior Managing Director of BSMB. “We are pleased to continue to support MPS and our management team in executing their organic and acquisition growth strategies.”