Imperial Bag & Paper has completed its acquisition of Dade Paper & Bag, a US-based distributor of food packaging, paper products, and foodservice disposables.
The acquisition will bring the revenue of the combined business to more than $1bn and will extend its presence in important regions.
Dade, which was founded in 1939, distributes foodservice disposables and janitorial supplies serving customers across more than 20 states. It focuses on supermarkets, foodservice providers, cruise lines, and schools.
The company primarily serves the Southeast and Mid-Atlantic markets reaching from Florida to Maryland with further locations in the Tri-State and Northeast regions.
The CEOs and management teams of both the companies are expected to continue in their current roles. The acquisition will not bring significant changes to the way consumers experience their respective products and services.
Imperial Bag & Paper president Jason Tillis said: “The Dade Paper team is an important addition to our growing platform. This represents a major step forward in our core markets and geographies.
“It reinforces our position as a leading distribution and service provider in the Mid-Atlantic and Southeastern regions, while positioning us to continue to expand throughout the remainder of the United States.”
Dade Paper & Bag chief operating officer Frank Sansone said: “Our team is incredibly excited to join Imperial. Our customers, employees and suppliers are all going to benefit from the increased service footprint, combined product offering, and growth opportunities this transaction creates.”
Last year, Imperial partnered with Audax Private Equity to support the company financially in its growth.
Audax managing director Don Bramley said: “We are thrilled to have partnered with Bob and Jason on this transformational phase of growth and the Dade transaction represents a meaningful step in our partnership as we continue to build the business organically and through acquisitions.”