Boston, MA – Capstone Headwaters, a leading international investment banking firm, advised Laddawn, Inc., a manufacturer of blown polyethylene bags and films, on its acquisition by Berry Global Group, Inc. Boston law firm Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. served as legal counsel to Laddawn and its shareholders in the transaction. Terms of the deal were not disclosed.
Founded in 1976 and based in Devens, Massachusetts, Laddawn, Inc. manufactures plastic bags and films for packaging applications. The company offers poly bags, re-closable bags, tubing and sleeves, film and sheeting, and mailers and accessories, as well as custom products. Laddawn, Inc. offers its products online, with a proven, unique-to-industry e-Commerce web and mobile sales platform. Laddawn has a proven track record in delivering strong organic growth generating over $145 million of net sales for the twelve months ended July 31, 2018. Laddawn has 380 employees with five manufacturing sites spread across the United States. For additional information, visit Laddawn’s website at www.laddawn.com
“In Berry Global, we found a partner who could take our e-Commerce advantage, and our people, further than we could go alone. Those opportunities were important to us," stated Ladd Lavallee, President of Laddawn, Inc.
Berry Global Group, Inc. (NYSE: BERY), headquartered in Evansville, Indiana, is committed to its mission of ‘Always Advancing to Protect What’s Important,’ and proudly partners with its customers to provide them with value-added protective solutions. The Company is a leading global supplier of a broad range of innovative non-woven, flexible, and rigid products used every day within consumer and industrial end markets. Berry, a Fortune 500 company, generated $7.1 billion of sales in fiscal 2017. For additional information, visit Berry’s website at www.berryglobal.com.
“We are extremely excited with what Laddawn’s proven web and mobile sales platforms will bring to our Engineered Materials portfolio, as well as, the possibility to expand these platforms to include other Berry products, said Tom Salmon, Chairman and CEO of Berry. “We believe Laddawn’s highly-technical online capabilities will support immediate growth, via this e-Commerce platform, to assist in quicker customer response times and small order fulfillments for the faster growing small and medium sized customer base. The combined Laddawn and Berry custom film product portfolio will provide a vast range of product offerings to thousands of valued customers further strengthening our core films business.”
“We believe this represents a new, high water mark in the industry,” said John Ferrara, Founder & CEO of Capstone Headwaters. “Laddawn’s sophisticated B2B e-commerce technology solutions will continue to be a major disruptor and Berry is perfectly positioned to capitalize on that proprietary capability.”
“Laddawn’s offering received intense interest from both strategic and private equity sponsors. Companies like Laddawn with quick customer response time and short-run packaging solutions selling into the e-commerce wave are receiving premium valuations,” said David Bench, Managing Director of Capstone Headwaters' Packaging Team. “Capstone Headwaters’ packaging team is extremely pleased with another successful outcome which accomplished all major objectives of our client.”