Riverside Acquires Be Green Packaging

Riverside Acquires Be Green Packaging

begreen nfThe Riverside Company has acquired Be Green Packaging, a maker of environmentally friendly products and packaging.

Be Green Packaging designs and manufactures certified, environmentally friendly products and packaging for the consumer packaged goods and foodservice industries. Be Green Packaging’s molded fiber products are tree-free, compostable, and recyclable. Products range from simple plates to complex packaging for consumer electronics. The company uses proprietary designs and processes and materials like bamboo, bulrush, wheat straw, sugarcane and rice husk that regenerates in a year or less. Be Green Packaging was founded in 2007 and is based in Santa Barbara, CA (www.begreenpackaging.com).

“Sustainability is no longer a luxury,” said Riverside Managing Partner Loren Schlachet. “Customers and retailers are demanding or requiring green materials, and Be Green Packaging has a proven track record of meeting that growing demand.”

Riverside plans to help Be Green Packaging’s co-founders, Ron Blitzer and Robert Richman, accelerate growth by investing heavily in US manufacturing, improving sales and marketing and continuing to invest in research and development.

“This is a high-growth industry, and Be Green Packaging has the tools and dynamic capabilities to enjoy the long-term trend toward sustainable packaging,” said Riverside Partner Joe Lee. “The company already serves a variety of blue-chip customers in numerous verticals, and has shown an ability to innovate while providing savings for its customers.”

Working with Mr. Schlachet and Mr. Lee on the transaction for Riverside were Assistant Vice President Steve Rice, Associate Elaine Ho, Operating Partner Bob Schmitz, Operating Partner and Managing Director of Asia Brian Bunker, and Operating Executive Finance Kim Katzenberger. Regional Director of Origination Jeremy Holland originated the transaction for Riverside.

Medley Capital (www.medleycapital.com) provided the financing and Jones Day advised Riverside on the investment.

The Riverside Company is focused on the smaller end of the middle market and invests in businesses valued at up to $250 million (€200 million in Europe). Since 1988, the firm has invested in more than 330 transactions with a total enterprise value of more than $6 billion. The firm’s current portfolio includes more than 70 companies. The Riverside Company is headquartered in New York with additional offices in Atlanta, Chicago, Cleveland, Dallas, Los Angeles, San Francisco, and London (www.riversidecompany.com).

© 2014 PEPD • Private Equity’s Leading News Magazine • 2-4-14

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