ATLANTA--(BUSINESS WIRE)--Nov 14, 2024--
Coregistics, a leading contract packaging company and a portfolio company of Red Arts Capital, is proud to announce the acquisition of Belvika Trade & Packaging (Belvika), a premier contract packaging provider to the food and beverage industry. This transaction establishes Coregistics as the largest pure-play contract packaging company in North America in terms of scale and revenue.
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Red Arts Capital acquired Coregistics in June 2022. The acquisition was financed through Red Arts Capital’s flagship fund, Red Arts Capital Opportunity Fund I, along with significant co-invest raised from LPs, family offices, and other strategic investors. On a consolidated basis, Coregistics generates approximately $350 million in revenue and operates a North American footprint encompassing over 3 million square feet.
Belvika, established in 1993 as a family-owned company, is a full-service supplier of contract packaging and supply chain solutions. Belvika supports global and emerging high-growth brands with its material sourcing, primary and secondary packaging, and merchandising displays capabilities. Belvika is recognized as a market leader that has served top 25 food and beverage companies since its founding, including many well-known household brand names.
As part of Red Arts’ value creation strategy, Belvika’s team will be an integral part of Coregistics’ go-forward operations. Belvika and Coregistics will be able to collectively draw from decades of institutional knowledge and experience, strengthening the expertise and customer-centric approach of the consolidated organization.
“This acquisition marks a pivotal moment for Coregistics as we expand our footprint and reinforce our position as a leader in the contract packaging industry,” said Victor Crawford, Coregistics' newly appointed Executive Chairman. “We are thrilled to see the Belvika team continue to be a part of the business and are excited to welcome them to the Coregistics family. Their deep industry insights and proven track record of success will be invaluable as we continue to deliver exceptional packaging and logistics solutions to our valuable customers.”
With the integration of Belvika’s capabilities, Coregistics is poised to offer a broader range of packaging services to its growing customer base, ensuring unmatched flexibility, scalability, and quality. As demand for innovative and sustainable packaging solutions continues to rise, Coregistics is positioned to meet the evolving needs of the market and its customers.
“Coregistics’ current capabilities will be complemented by Belvika’s focus on high touch service, safety and quality while bringing a unique expertise in primary packaging food and beverage products,” said Chad Strader, Co-Founder and Managing Partner of Red Arts Capital. “Together, Red Arts Capital and Coregistics remain committed to delivering high-quality, exceptional service to CPG companies, emerging brands, and private label brands. We are excited to solidify our position as North America’s preeminent contract packaging organization.”
Brightwood Capital Advisors, Prudential Capital Partners, and Main Street Capital Corporation provided debt financing for the transaction. Greenberg Traurig, LLP and Osler, Hoskin & Harcourt, LLP served as legal advisors for Red Arts Capital. Houlihan Lokey served as financial advisor to Belvika in the transaction.
About Coregistics
Headquartered in Atlanta, Georgia, Coregistics is a packaging-centric supply chain services company. Led by a team of elite industry professionals, Coregistics provides unique primary and secondary packaging solutions to a wide variety of consumer goods companies. From packaging design and material sourcing to customization and distribution, Coregistics delivers the right combination of the services customers need to successfully deliver their products to retail. With its strategic locations across North America, totaling over 3.0 million square feet of state-of-the-art space, Coregistics has the agility and scalability to meet the growing demands of a constantly changing industry.
About Red Arts Capital
Based in Chicago, Illinois, Red Arts Capital is a leading investment firm with over $300 million in assets under management, with a focus on supply chain-related and logistics businesses. Red Arts Capital seeks to partner with and invest in proven, successful businesses that are uniquely positioned in their market and led by superior management teams to execute the value creation strategy and generate strong shareholder returns. With sector expertise and a commitment to responsible stewardship and excellence, Red Arts Capital supports its portfolio companies through its operational playbook, world-class network of operating partners, advisory councils and supply chain expertise.
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CONTACT: Media Contact
www.redartscapital.com
KEYWORD: GEORGIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: SUPPLY CHAIN MANAGEMENT PROFESSIONAL SERVICES PACKAGING RETAIL MANUFACTURING FINANCE FOOD/BEVERAGE
SOURCE: Red Arts Capital
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PUB: 11/14/2024 06:00 AM/DISC: 11/14/2024 06:01 AM
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