International Paper acquires Berkley Molded Fiber division

Rhea-AI Summary

International Paper has acquired Berkley International's Molded Fiber manufacturing division, Berkley MF LLC, enhancing its sustainable packaging portfolio. The acquisition, for an undisclosed amount, aims to strengthen International Paper's position in the eco-friendly packaging market, providing a competitive alternative to single-use plastics and foam products. Berkley MF specializes in the design and distribution of custom molded fiber packaging and operates from a state-of-the-art facility in Reno, Nevada. Berkley International will continue servicing its existing customers.

Positive

• Acquisition of Berkley MF enhances International Paper's sustainable packaging offerings.
• Strengthens market position against single-use plastics and foam products.
• Berkley MF's expertise in custom molded fiber packaging can drive revenue growth.

Negative

• None.

LOS ANGELES, Feb. 24, 2021 /PRNewswire/ --

International Paper has acquired Berkley International's Molded Fiber (pulp) manufacturing division, Berkley MF LLC, for an undisclosed purchase price. Calabasas Capital served as exclusive financial advisor to Berkley.

International Paper acquires Berkley Molded Fiber division

After seven years of manufacturing outside of Los Angeles, Berkley moved operations into an 80,400 square foot state of the art molded fiber manufacturing plant outside of Reno, Nevada in 2019.

Berkley International works with high growth CPG companies who are looking to utilize their sustainable packaging technology for ecommerce and food packaging applications. Berkley MF provides in house design, manufacturing and distribution of custom molded fiber packaging products. Berkley is focused on bringing the domestic molded pulp manufacturing sector a cost-competitive alternative to single use plastic, and foam-based packaging mediums like EPS (Styrofoam).

Berkley International, the former parent company will continue to serve their customers and engaged in the sales of molded fiber products.

The International Paper Company (NYSE: IP) is an American pulp and paper company, the largest such company in the world.  It has approximately 56,000 employees, and is headquartered in Memphis, Tennessee.

Contact: Eric Berkley, eric@goberkley.com

 

View original content:http://www.prnewswire.com/news-releases/international-paper-acquires-berkley-molded-fiber-division-301235176.html

SOURCE Berkley International

FAQ

What is the significance of International Paper acquiring Berkley MF?

The acquisition strengthens International Paper's sustainable packaging portfolio and enhances its competitive position in the market.

When was the acquisition of Berkley MF announced?

The acquisition was announced on February 24, 2021.

What does Berkley MF specialize in?

Berkley MF specializes in the design and distribution of custom molded fiber packaging products.

How does the acquisition impact International Paper's business strategy?

This acquisition aligns with International Paper's strategy to expand its eco-friendly packaging solutions and reduce reliance on single-use plastics.

What facilities does Berkley MF operate from?

Berkley MF operates from a modern 80,400 square foot manufacturing plant located outside Reno, Nevada.