TricorBraun recently secured a deal to acquire German glass packaging distributor Gläser & Flaschen GmbH, according to a press release.
"Gläser & Flaschen has built a strong business known for its quality, innovation and technical expertise," president, TricorBraun Europe, Declan McCarthy, said. "We are pleased to partner with the outstanding Gläser & Flaschen team to offer more supply chain options to customers, while investing in their continued growth and expansion. We welcome Gläser & Flaschen to the TricorBraun family."
Based in a state-of-the-art distribution and operations center in Wustermark (Brandenburg, Germany), the company is credited with more than two decades of high-quality glass packaging and providing experience.
All Gläser & Flaschen employees will now be managed by TricorBraun, but continue working out of the company’s existing agency.
The transaction is projected to close in November. Upon finalizing the deal, Gläser & Flaschen will operate as a TricorBraun company. Mergers Alliance member, Proventis Partners served as financial advisor for TricorBraun.
TricorBraun hopes the addition will strengthen the company’s operational presence as a leading packaging provider in Europe.
"We have such an intense passion for our business, our talented team, our customers and suppliers, and our strong community in the preserved food world—we knew we needed an exceptional partner as we begin our next phase of growth," Stefanie Burmeister, managing director, Gläser & Flasche, said. "TricorBraun's world-class reputation, paired with its focus on team members, service for customers and emphasis on growth makes it our ideal home."
Since its establishment, TricorBraun has formed collaborations with various management teams, which helped grow its acquisition catalog to a total of 37 packaging companies worldwide.