River Associates Acquires Rose City Printing and Packaging
Chattanooga, TN, December 11, 2012
River Associates has announced today that it has partnered with management to acquire Rose City Printing and Packaging, Inc. (“Rose City”), one of the largest and fastest growing specialty printing and paperboard packaging converters in the western U.S. Terms of the transaction were not disclosed.
Rose City, founded in Portland, Oregon in 1945 is one of the largest and fastest growing specialty printing and packaging converters in the western U.S. manufacturing folding cartons and beverage carriers for over 180 leading food, beverage, nutrition, and consumer products companies. The Company is one of the only independent producers in the U.S. supporting multiple production plants, with locations in Vancouver, Washington and Gresham, Oregon.
“We are very excited to partner with Rose City,” said Craig Baker, Partner at River Associates. “We see a great deal of growth opportunities for the company and look forward to partnering with management to continue to grow the business.”
“River Associates’ experience in manufacturing businesses appealed to us as we looked for the right partner,” said Steve Lobis, Chief Executive Officer at Rose City. “We are excited to partner with their team and we look forward to leveraging their expertise to continue to grow the company and service our customers.”
River Associates funded the transaction with equity from its sixth investment fund (River VI, L.P.). Financing was provided by OneWest Bank and Babson Capital.