Pratt Industries' latest acquisition makes it the largest privately-owned packaging and recycling company in the United States with 60 facilities and a workforce of 3400 employees
Pratt Industries has acquired the Love Box Company and Lewisburg Container, to become the largest privately-owned packaging and recycling company in the United States. The deal, concluded late November, almost doubles Pratt’s presence in the North American market from 35 facilities to 60, and increases its workforce to almost 3400 employees – up from 2000. “It’s with great pride that we announce this deal,” says Pratt chairman and CEO, Anthony Pratt. “The agreement unites two of the industry’s best and most progressive family-owned businesses. It allows us to move forward with complete focus on our customers utilising the unique strengths and values which we collectively bring to the marketplace.”
Pratt added that the merged enterprise is particularly gratifying given that many companies in the industry continue to contract and consolidate. “We’re focused on growth and we will continue to expand,” he says. “We open factories, not close them. So we welcome the Love Box family to ours – the fastest growing paper and packaging company in the U.S.”
Senior executives for Pratt and the Kansas-based Love Box Company – both third-generation companies – say the two companies were a natural fit, with synergies that will benefit not only their employees but the more than 7000 customers they service.
Randy Love, CEO of Love Box Company states, “The synergies from these merged interests will be outstanding. Our shared values and combined resources will provide great benefit to both our customers and employees. In the interest of our customers, we will provide a far greater ability to serve their needs, not only regionally, but also nationally and globally. Employing Pratt’s excellent foundational paper resources, we anticipate providing greater, low-cost product-to-market solutions.
“For our employees, inasmuch as Pratt Industries shares our commitment to the significant worth and potential contribution of the individual, we anticipate great opportunity for those who consistently add value.
“Speaking for the Love family, we are pleased to be a part of the Pratt organisation and look forward to our continued involvement with the merged enterprise and our valued employees and customers. It’s rare that two companies are so perfectly matched in terms of philosophy, entrepreneurship, geography, converting capability and an absolute desire to serve our customers,” says Pratt chief operating officer, Brian McPheely. “As many in the industry know, Pratt has enjoyed a close relationship with Love for more than a decade as a paper supplier and each has supplied boxes for the other. This is a perfect fit.”
The deal consolidates Pratt’s position as the 7th largest corrugated packaging company in the United States .
Love Enterprises has more than 80 years of experience in the corrugated industry and facilities in 10 states throughout the Midwest .
Love Box CIO, Robert Love, says “By combining our packaging expertise, and facility locations with Pratt’s capabilities, we expect to strengthen and broaden our offerings of packaging solutions for our customers throughout the USA . We are excited about the opportunities we can now offer our customers, our suppliers and our employees as we embrace this very positive merger for the future.”
