Date: January 05, 2011
TricorBraun Announces Penn Bottle Acquisition
by Michael L. Drohlich
TricorBraun and Penn Bottle and Supply Co. announce TricorBraun’s acquisition of Penn Bottle and Supply Co., the Philadelphia-based distributor of rigid packaging with approximately $50-million in annual revenue.
Penn Bottle and Supply Co. was founded in 1920 by Edward Probinsky, and has been family owned and operated ever since. “This is a huge opportunity. Our focus has always been on providing world-class customer service; a philosophy we share with TricorBraun. We’re excited about the additional options and resources that will be available to our customers and personnel as we join the TricorBraun team,” said Mr. Rich Probinsky, grandson of the founder and President and Chief Executive Officer of Penn Bottle and Supply Co.
Founded in 1902 and headquartered in St. Louis, Missouri, TricorBraun is the largest distributor of rigid packaging solutions in North America, with over 40 locations globally and annual revenues approaching $1-billion. TricorBraun provides a comprehensive offering of over 32,000 rigid packaging containers and related components as well as extensive package design, engineering and development services, global sourcing and logistics management. TricorBraun’s customers are in almost every market imaginable–personal care, healthcare, household and industrial chemicals, food and wine.
Penn Bottle and Supply Co. represents TricorBraun’s twelfth recent acquisition and fits well with TricorBraun’s strategy of acquiring select packaging distribution businesses with attractive growth potential.
Effective immediately, Penn Bottle and Supply Co. becomes a part of TricorBraun, with immediate access to all of its resources and the options they provide including:
“We’re very pleased and excited to welcome Penn Bottle to the family,” said Keith J. Strope, President and Chief Executive Officer of TricorBraun. “The combination of Penn Bottle’s presence in the East with our current business there significantly strengthens our position in that geography. There are a lot of similarities; long, rich histories in the industry, company cultures and customer service focus. Together, we will provide our customers an even greater array of packaging options designed and engineered to deliver success in their markets.”
TricorBraun is owned by an affiliate of CHS Capital LLC, a Chicago-based private equity firm and management.
EDITOR’S NOTES: TricorBraun is headquartered 10330 Old Olive St. Rd., St. Louis, Missouri 63141-7808, TEL: (314) 569-3633. For additional background information, check the company web site at www.tricorbraun.com.