All amounts in this press release are denominated in U.S. dollars unless otherwise indicated.
Better Packages’ product line includes automatic tape dispensing machines used in high volume applications such as e-commerce fulfillment centers. IPG is a leading North American manufacturer of reinforced and non-reinforced water-activated tape. This acquisition represents a holistic combination of both machine and consumable products which should provide IPG with a strong position in the marketplace.
“This acquisition marks an important milestone in an effort to support IPG’s vertical marketing. The addition of Better Packages will reinforce our offering in water-activated tape solutions focused specifically on the growing electronic fulfillment channels,” said Greg Yull, IPG’s President and CEO.
“I am pleased that Better Packages will be joining the IPG corporate family. Better Packages is a recognized brand in water-activated tape dispensers. The acquisition of the Better Packages brand allows IPG to position itself as the premier solutions provider to the market.”
Better Packages revenue for the most recently completed fiscal year was approximately $18 million. The acquisition was financed with funds from IPG’s revolving credit facility and is expected to be accretive to earnings in 2015.
Phil White, the current CEO of Better Packages, will continue to manage Better Packages’ operations. The business will remain headquartered in Ansonia, CT.