Global packaging distributor TricorBraun announced today that it has acquired beverage packaging providers Zuckerman Honickman and Vessel Packaging in a move providing the conglomerate with additional non-alcoholic beverage capabilities and an expanded footprint in Canada.
According to the company, all Zuckerman Honickman and Vessel team members, including existing leadership, are expected to remain with the consolidated company upon completion of the deal, and each business will continue to operate as stand-alone subsidiaries of TricorBraun. Financial terms were not disclosed.
“Our acquisitions of Zuckerman Honickman, a name synonymous with best-in-class beverage packaging, and Vessel Packaging, a leading Canadian value-added distributor of aluminum cans, bolster our ability to serve beverage customers with expanded offerings and services across North America,” said Court Carruthers, president & CEO of TricorBraun in a press release. “We are incredibly excited to welcome the ZH and Vessel teams to the TricorBraun family and look forward to investing in their continued growth.”
Based in Pennsylvania, Zuckerman Honickman is a fourth-generation, family run business which provides packaging solutions across all beverage categories. The acquisition comes amid a widespread aluminum can shortage and ongoing packaging supply disruptions, and Zuckerman Honickman provides TricorBraun with an expansive non-alcoholic packaging operation, including glass, hot and cold fill plastic, and aluminum can services. As part of the deal, TricorBraun will also acquire Delta Industries, a subsidiary of Zuckerman Honickman which distributes trigger sprayers and bottles.
Speaking to BevNET today, Michael Zuckerman, president of Zuckerman Honickman, said the company had experienced significant growth over the past five years and joining with TricorBraun will allow it to further expand with access to a larger distribution network and team expertise.
“We are extremely excited about our future growth and partnership with TricorBraun,” Zuckerman said. “We couldn’t be prouder to be linked up with a better management team and we are really excited about the future and our growth together.”
Based in Canada, Vessel was founded in 2013 and offers a variety of aluminum can services including mobile canning, design, shrink sleeving, can ends and carriers, printed cans and labelling services. The acquisition provides TricorBraun with a stronger position in the aluminum can market and expands its footprint in the Canadian marketplace.
“Our customers trust us as their packaging partner thanks to our reliability, expertise, and value-added packaging services,” said Matt Leslie, CEO of Vessel Packaging, in a press release. “We are immensely proud of our strong reputation in the beverage industry, and we are very excited for our next chapter of growth with TricorBraun.”
In negotiating the deal, J.P. Morgan Securities LLC served as exclusive financial advisor to Zuckerman Honickman and KPMG Corporate Finance Inc. was the exclusive financial advisor for Vessel.