LBP Manufacturing LLC (LBP) today announced it has acquired Union Packaging, a leading producer of fry cartons, chicken nugget boxes and other paper-based packaging products to national quick-service restaurants (QSRs). Financial terms of the transaction were not disclosed.
Based in Chicago, IL, LBP is a leading, global producer of sustainable and innovative food and beverage packaging. The acquisition of Union Packaging, following LBP’s November 2018 acquisition of Dominion Packaging’s QSR segment, further expands LBP’s product offering to provide customers with a full suite of folding carton and corrugated packaging solutions. Mike Pearson, founder of Union Packaging, will also be joining LBP as a consultant as part of the transaction. LBP is owned by Pritzker Private Capital and management.
Mike Pearson said, “LBP’s product innovation capabilities, broad manufacturing footprint and focus on customer service will allow Union to continue expanding its product offering and providing excellent service to its customers. Matt and his team align well with our culture and I am excited to partner with them going forward.”
“Mike and his team have done an exceptional job building Union over the past twenty plus years into a world-class provider of QSR packaging,” said Matt Cook, CEO of LBP. “Their long-standing commitment to innovation and customer-centric culture align well with LBP’s core values. We look forward to continuing to invest in expanding our capabilities and are thrilled to add Union Packaging to our team. Union’s manufacturing capabilities and increased capacity will allow LBP to expand its services and product mix to other clients.”
Thomas Chadwick, Vice President at Pritzker Private Capital, added, “This acquisition provides further scale to LBP across a number of products to best serve LBP’s existing and future customers. We continue to enthusiastically support Matt and his team as they further bolster their value proposition to customers.”
About LBP Manufacturing: Chicago-based LBP Manufacturing LLC combines innovation and performance to develop consumer-preferred, sustainable, over-the-counter foodservice packaging. LBP harnesses innovation in material science, equipment and converting technology to meet the varying demand of consumer packages for its customers. LBP is widely known for its hot beverage solutions such as the original Coffee Clutch® hot cup sleeve and Beverage on the Move™ insulated beverage to-go carrier in addition to a variety of unique catering trays, clamshells and other containers. LBP maintains a global operating footprint, with facilities in the U.S., Poland, and China. For more information, visit lbpmfg.com.
About Union Packaging: Founded by Mike Pearson in 1999, Union Packaging is a leading producer of food packaging to leading global quick service restaurants. Philadelphia-based, Union Packaging’s capabilities include designing, printing, manufacturing and shipping folding cartons, box packaging, and disposable food containers. For more information, visit unionpkg.com.
About Pritzker Private Capital: Pritzker Private Capital acquires and operates middle-market companies based in North America with leading positions in the manufactured products, services and healthcare sectors. The firm’s differentiated, long-duration capital base allows for efficient decision-making, broad flexibility with transaction structure and investment horizon, and alignment with all stakeholders. Pritzker Private Capital builds businesses for the long term and is an ideal partner for entrepreneur and family-owned companies. For more information, visit PPCPartners.com.