Pritzker Group Private Capital has purchased LBP Manufacturing, a maker of food and beverage packaging. With the closing of the transaction, Matt Cook, LBP’s current president will become its chief executive officer and will remain a shareholder of the company.
“With a growing portfolio of patented products and a world-class innovation team, LBP is poised to expand its leadership position in the global food and beverage packaging market,” said Michael Nelson, Pritzker Group Private Capital investment partner.
LBP Manufacturing is a maker of food and beverage packaging including cups, catering trays, clamshells and other containers. The company’s patented product portfolio includes Coffee Clutch hot cup sleeve, Beverage on the Move insulated beverage to-go carrier and THERMO GRIP double-wall hot cups. LBP’s customers include, among others, McDonald’s, Dunkin’ Donuts and Starbucks. In 2012, LBP received a “Supplier of the Year” award from Starbucks. LBP has approximately 750 employees and is headquartered just outside of Chicago in Cicero, IL and has additional facilities in Poland and China (www.lbpmfg.com).
Pritzker Group Private Capital is acquiring LBP from Barry Silverstein who took over the company from his father Len Silverstein. “At Pritzker Group we look to work with business owners and industry-leading entrepreneurs like Barry Silverstein who seek liquidity while also looking to preserve their corporate legacy,” said J.B. Pritzker, managing partner at Pritzker Group.
Pritzker Group, led by Tony and J.B. Pritzker, has three principal investment teams: Private Capital, which acquires and operates North America-based middle-market companies in the manufactured products, services and healthcare sectors; Venture Capital, which is the largest technology venture investor based in the Midwest; and Asset Management, which partners with investment managers across global public markets. The Pritzker Group is based in Chicago (www.pritzkergroup.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 7-14-15
