Welch Packaging, a multi-site family owned business concentrated in the Midwest, has acquired Heritage Packaging, a supplier of corrugated packaging and supplies located in Lincoln, IL. Terms of the transaction were not disclosed.
Welch Packaging Group has acquired PackSpec in Romulus, Michigan, serving the greater Detroit market. Packaging Specialties is a large corrugated sheet plant that has been owned by the Tabor family for the past 54 years. ”Our business was at an inflection point and this type of opportunity does not come a long everyday”, said GM Jim Gracey. “We were faced with significant capital expenditures, or we could leverage the resources of a larger company and still maintain our family owned culture, so we chose Welch.” Terms of the transaction were not disclosed.
This continues a string of successful acquisitions that spans the past few decades. The company now has 10 manufacturing locations and 5 distribution centers strategically located throughout the Midwest (Michigan, Indiana, Ohio, Illinois, Kentucky and Tennessee) with a corrugator and extensive capabilities in graphics. “We continue our interest in partnering with family owned businesses that specialize in converting custom corrugated products for local customers. PackSpec is a great fit with our business”, says John Martin, Director of M&A. “They have engaged associates, good equipment, a talented leadership team and deep relationships with local customers. We are honored the Tabors chose Welch to continue the PackSpec legacy.”