Anchor Packaging LLC, a St. Louis, Missouri-based manufacturer of specialty food packaging used by restaurants and supermarkets for delivery and take-out meals, announced the first stage of its strategic plan to accelerate growth through a partnership with The Jordan Co. (TJC), a private equity firm.
“Anchor has achieved outstanding organic growth, tripling its revenue in the past 15 years, said Jeffrey Wolff, president and CEO of Anchor. “Now, we are talking about transformative growth, broadening our geographic reach through additional manufacturing facilities, new and complementary product lines to better serve our customers and new materials to offer our customers a broader set of solutions.”
Under the terms of the partnership, TJC will become investors in Anchor; however, the Hermann family, who has owned Anchor for 56 years, will continue to have ownership as well.
“Anchor has been, and continues to be, a family business,” said Robert Hermann Jr. “We are excited to partner with TJC to help fuel Anchor’s continued growth and increase our trajectory. TJC possesses many of the same values, ethics and long-term orientation that has been a hallmark of Anchor.”
“We are thrilled to be partnering with the Anchor management team, alongside the Hermann family, to support the company’s enhanced growth plans. Anchor is a best-in-class, sustainable packaging business, servicing a world-class customer base. We plan to invest further in the business to support organic growth and continued new product development,” said Mike Denvir, partner at TJC.
The transaction is expected to close in July, subject to customary closing conditions.
TJC, founded in 1982, is a middle-market, private equity firm that manages funds with original capital commitments in excess of $8 billion with a 35-year track record of investing in and contributing to the growth of many businesses across a wide range of industries. Headquartered in New York, TJC also has offices in Chicago.
Anchor Packaging LLC is a thermoformers in North America and known for its product designs and custom capabilities. Anchor’s unique stock product line includes more than 450 rigid packaging and cling-film products.