The Cullman location of corrugated packaging company Midsouth Packaging, formerly Menasha Packaging, has been sold to the RockTenn company. MidSouth was previously owned by New York-based Coridel.
“The acquisition of Mid South, a company well-known for its profitable business model and efficient, well-run operations, is in keeping with our announced strategy to seek acquisitions that increase our integration level,” RockTenn Chairman and CEO James A. Rubright said in a press release. “Adding Mid South’s unique customers to RockTenn’s already diversified customer base further strengthens our market reach.”
In addition to the Cullman plant, the asset acquisition also included a plant in Olive Branch, Miss.
Coridel CEO Tyler Kwon said MidSouth has been an excellent asset for the company, and he hopes that trend will continue with RockTenn.
“It has been a privilege to partner with the Mid South management team as they built a robust company, making significant operational improvements, growing revenues and delivering record earnings year after year during our investment period,” he said in a press release. “This transaction demonstrates the significant value that has been created. I am confident that under the leadership of the RockTenn organization, Mid South will continue its tradition of excellence and innovation.”
RockTenn employs more than 26,000 people worldwide, with operations in the United States, Canada, Mexico, Chile, Argentina and China.
According to the Cullman Economic Development Agency website, the Cullman location employees approximately 79 people.
A representative from RockTenn did not respond to a message left by The Times seeking additional information about the transition.
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