Anchor Packaging LLC, one of North America’s largest manufacturers of specialty food packaging used by restaurants and supermarkets for delivery and take-out meals, has announced the first stage of its strategic plan to accelerate growth through a partnership with The Jordan Company, a private equity firm with more than 30 years’ experience in aligning themselves with company management to build value.
“Anchor has achieved outstanding organic growth, tripling its revenue in the past 15 years, said Jeffrey Wolff, president and CEO of Anchor. “Now, we are talking about transformative growth – broadening our geographic reach through additional manufacturing facilities, new and complementary product lines to better serve our customers, and new materials to offer our customers a broader set of solutions”.
Under the terms of the partnership, The Jordan Company will become investors in Anchor, however, the Hermann family, who has owned Anchor for 56 years, will continue to have ownership as well.
“Anchor has been, and continues to be, a family business” said Robert Hermann Jr. “We are excited to partner with The Jordan Company to help fuel Anchor’s continued growth and increase our trajectory. The Jordan Company possesses many of the same values, ethics, and long-term orientation that has been a hallmark of Anchor.”
“We are thrilled to be partnering with the Anchor management team, alongside the Hermann family, to support the company’s enhanced growth plans. Anchor is a best in class sustainable packaging business, servicing a world class customer base. We plan to invest further in the business to support organic growth and continued new product development,” said Mike Denvir, partner at The Jordan Company.
The transaction is expected to close in July 2019, subject to customary closing conditions.