ST. LOUIS--(BUSINESS WIRE)--Global rigid packaging distributor, Novvia Group (“Novvia”), has entered into a definitive agreement to acquire Saxco International, LLC (“Saxco”, or the “Company”), a leading provider of rigid packaging solutions to the beverage and food industries. Saxco offers a broad range of products, including glass, metal, and plastic containers and closures, alongside a suite of value-added capabilities. Financial terms of the private transaction were not disclosed. Novvia is backed by Kelso & Company (“Kelso”).
Founded in 1936 and headquartered in Fairfield, CA, Saxco serves a loyal customer base of more than 5,000 wineries, brewers, distillers, and specialty food and beverage manufacturers across North America. The company operates over 1 million square feet of warehouse space spanning 20 fulfillment centers, providing customers with timely access to over 10,000 unique SKUs. Saxco supplements its broad product offering with a range of value-added services, including packaging design, artwork management, demand planning, case packing, and other capabilities.
"We are excited to join forces with Novvia to build upon Saxco’s rich history of customer service and deep expertise within our markets," said JB Berry, CEO of Saxco. “From our first interaction with the Novvia team, we were impressed with the professionalism, fairness, and efficiency of the diligence process and their focus on ensuring that Saxco can operate as a growth platform for Novvia, supported by the benefits and resources of a larger organization. I also want to extend my heartfelt thanks to our dedicated employees for their outstanding contributions to date. Together with Novvia, we are eager to execute on the opportunities that lie ahead."
The combination marks Novvia's strategic entry into the consumer product focused rigid packaging distribution market, which will complement Novvia’s current product offerings. The experienced Saxco team will assume leadership over Novvia's consumer product distribution division, leveraging their expertise to drive a thoughtful organic and inorganic growth strategy. Combined with Novvia's existing robust presence in industrial and life sciences rigid packaging distribution, the partnership solidifies Novvia as a leading supplier across a wide array of rigid packaging distribution applications.
"The acquisition of Saxco is an important milestone in Novvia’s history. We are thrilled to partner with the strong Saxco team and bring Novvia’s organizational resources and deep customer and supplier relationships to bear as we scale our consumer packaging offering,” said Ken Roessler, Executive Chairman of Novvia. “We are eager to continue our ambitious growth strategy and build upon Novvia’s differentiated market position across a diverse range of end markets and product categories.”
For more information about Saxco, please visit Saxco.com.
About Novvia
Novvia is a leader in high-quality packaging solutions and customized services with domestic and international customers across myriad of industries. Through its family of dynamic companies, comprised of Inmark, C.L. Smith, Silver Spur, Container Supply, Fox Valley, Rhino, Novvia Canada, Southern Container, Duval Container, Rios, Auberst, Innovative Container, Rahway, Northern Container, Ocean State, JWJ Packaging, Liquid Bottles, and post-closing, Saxco, Novvia has set a new industry standard as a national stocking distributor with a comprehensive suite of containers and supplies, trusted local relationships and a long history of best-in-class customer service. For more information, please visit NovviaGroup.com.
About Kelso
Kelso is one of the oldest and most established firms specializing in private equity investing. Since 1980, Kelso has invested approximately $20 billion of equity capital in over 140 transactions. Kelso was founded by the inventor of the Employee Stock Ownership Plan (ESOP) and, as a result, the principles of partnership and alignment of interest serve as the foundation of the firm’s investment philosophy. Kelso benefits from a successful investment track record, deep sector expertise, a long-tenured and stable investing team, and a reputation as a preferred partner to management teams and corporate partners. Kelso has significant experience investing in and supporting high-growth distribution and packaging platforms. The firm is based in New York, NY. For more information, please visit Kelso.com.
