US – US-based packaging company TricorBraun has signed an agreement to acquire Mark’s Barrel Company (MBC), expanding its industrial packaging capabilities.
MBC specializes in refurbishing and recycling industrial containers, including steel and plastic barrels, drums, and intermediate bulk containers (IBCs).
The industrial container services provider’s services include sustainable packaging and ecologically safe collection alternatives.
The firm said through these services, it aims to help customers reduce their environmental impact while offering an effective but cheaper alternative to new purchases.
Mark’s Barrel Company President Mark Schwietz said: “We have great respect for the TricorBraun team and share their passion for serving customers.
“Partnering with TricorBraun will allow us to take our company to the next step in our growth—for the benefit of our team members and customers. We are excited to join the TricorBraun team.”
Following the acquisition, TricorBraun will retain all of MBC ‘s employees, who will continue to work from the company’s existing location near Salt Lake City, Utah.
Upon the completion of the transaction, Mark’s Barrel Company will now operate as TricorBraun Industrial Services.
TricorBraun Market Development SVP Brian McCarthy comments: “Over the last 26 years, MBC has established a strong reputation in the industrial packaging and reconditioning industry for quality, service, and efficiency.
“Partnering with MBC is a tremendous opportunity to continue to provide our customers with more sustainable options. We look forward to welcoming Mark Schwietz and his team to the TricorBraun family and investing in the company’s continued growth.”
Based in St Louis, Missouri, TricorBraun has so far partnered with management teams to purchase and expedite the growth of 36 packaging companies worldwide.
The company operates a network of more than 100 locations across the Americas, Europe, Asia and Australia.
In June this year, the company completed the acquisition of an Australian provider of plastic and glass packaging, PB Packaging.
The acquisition of PB was intended to expedite TricorBraun’s presence in Australia and its global expansion.
In addition, the deal allows TricorBraun to exploit the US$ 2.54 billion plastic packaging market in Australia which is expected to grow to US$2.89 billion by 2026.
Liked this article? Subscribe to our regular email newsletters with the latest news insights from Africa and the World’s packaging and printing industry. SUBSCRIBE HERE.