New-Indy Containerboard Acquires Shoreline Container
ONTARIO, Calif. – New-Indy Containerboard LLC, a 50/50 joint venture between the Kraft Group and Schwarz Partners, LP, today announced that it has acquired Shoreline Container, a Michigan-based paper and packaging company.
With this acquisition, New-Indy will optimize Shoreline’s two manufacturing facilities, a Holland, Michigan, facility which produces corrugated packaging products, and a Zeeland, Michigan, facility which distributes protective and specialty packaging materials. Bob Zuker, Chief Operations Officer of Shoreline, will remain with the company.
In response to the acquisition, New-Indy issued the following statement: “The addition of Shoreline Container is a great fit strategically to our existing operations and provides further integration for our mill system. Most importantly, this acquisition will allow us to continue serving our customers with exceptional quality and service. We are excited about the opportunities this acquisition will provide and the services we will be able to implement through the combined companies.
“The combination of New-Indy and Shoreline Container guarantees Shoreline Container’s existing customers long-term security of raw material access, while also providing New-Indy a Michigan presence that complements our existing trading strategy.”
Ernst & Young Capital Advisors, LLC (EYCA) acted as the exclusive financial advisor to Shoreline Container in connection with the transaction.
New-Indy is a joint-venture that was formed in 2012 by the Kraft Group and Schwarz Partners, LP, two family-owned companies with long histories in paper and packaging. Today, New-Indy operates three recycled paper mills, one kraft pulp and paper mill and 14 packaging facilities throughout the United States. For more information, visit newindycontainerboard.com
ABOUT THE KRAFT GROUP
The Kraft Group, headquartered in Foxborough, Massachusetts, is the holding company for the Kraft family’s various businesses, with concentrated interests in five areas: paper and packaging manufacturing and the distribution of forest products; sports and entertainment; real estate and development; private equity investing and philanthropy. Together, the Rand-Whitney Group and International Forest Products conduct business in more than 90 countries and form one of the largest privately-owned paper, packaging and distribution companies in the world, trading more than five million tons of pulp and paper grades annually. The Kraft Group’s sports and entertainment division features Gillette Stadium, New England’s premier concert and entertainment venue and home to the National Football League’s six-time Super Bowl champion New England Patriots and Major League Soccer’s New England Revolution. For more information, visit www.thekraftgroup.com.
ABOUT SCHWARZ PARTNERS, LP
Based in Indianapolis, Indiana, Schwarz Partners, LP is a privately owned company with a focus on corrugated products and logistics. The Royal Group, the packaging division of Schwarz Partners, services customers in the automotive, agriculture, industrial manufacturing and consumer goods industries throughout North America and consists of 33 locations, 12 of which are corrugated box and sheet plants. Schwarz Partners, LP, is also considered the largest producer of sheets in the U.S. with interests in 14 sheet feeder corrugator plants. Together, the sheet feeders and the corrugator box plants currently consume approximately 1.5 million tons of containerboard annually. Venture Logistics, the supply chain management company of Schwarz Partners, LP, consists of 1,000 tractors, a brokerage division moving 2,000 loads per week and more than 1 million square feet of warehouse and cross dock space. For more information, please visit www.schwarzpartners.com.