Ruberto, Israel & Weiner (RIW) is pleased to announce that client Merrimack Valley Plastics (MVP) of Methuen, Mass., was recently acquired by Envases USA. RIW served as legal counsel on the transaction, working closely with MVP to ensure a strategic and tax-efficient acquisition process.
Over the past few years, MVP has enjoyed a close manufacturing collaboration with Envases USA, making Envases the preferred choice as a buyer when MVP management decided to sell. Founded in 2011, MVP started with a mission to make purchasing PET bottles easy and affordable for all companies, regardless of size. MVP’s clients now range from small, privately-held specialty beverage manufacturers, to multi-billion dollar national beverage companies and retail chains, with plastic containers being using in a variety of applications across the food and beverage industry, including iced teas, dairy, water, sauces and much more.
In its first full year of operations, MVP generated just under six million in revenue, and in the years since, has enjoyed a Compound Annual Growth Rate in excess of 30 percent. Envases USA is a subsidiary of the Envases Universales Group, which is headquartered in Mexico. The Envases Universales Group is a worldwide supplier of quality packaging solutions and is currently comprised of 56 plants and seven distribution centers operating in four continents around the world. The acquisition will strengthen the presence of Envases in the United States.
The prior owners of MVP, Stephen Crompton, CEO, John Panagiotakos, President, and Scott Mueller, Executive Vice President, will continue with the company and keep their current roles and responsibilities. Crompton said he enjoyed working with RIW because of how simple and effective they made transaction process.
Russell Stein, RIW lead attorney on the MVP deal said, “As legal counsel, we are very pleased to have worked in partnership with MVP leadership to bring this complex transaction to a timely and successful conclusion.”
For more information on RIW’s Mergers & Acquisitions practice, visit https://www.riw.com/practice/mergers-acquisitions/ or contact the attorney of your choice.
