Although both companies are privately held, which means that neither is obliged to give details of the transaction, the two businesses are aiming to tap into synergies that should allow both to expand significantly.
Tapping into the Eastern board
“The acquisition of Rand Diversified strengthens our geographic coverage with the addition of East Coast fulfillment and contract packaging,” said Mike Waite, president of Menasha Packaging.
“Customers continue to value partnerships where Menasha Packaging can manage the entire design through manufacturing through fulfillment process. Adding Rand’s expertise will help us respond to this growing demand.”
Menasha has a strong presence in most areas of the fast moving consumer goods category, including the personal care and pharmaceutical categories, and it is by tapping into this expertise that Rand will be looking to increase its market presence.
Personal care manufacturing hub
The fact that Rand has an established business presence in a geographic area where the vast majority of US personal care and pharmaceutical manufacturers are currently doing business should also be particularly advantageous to Menasha.
Rand also has a well developed design office and fulfillment office in Edison, New Jersey, an area that is ideally located within a strong business hub for both personal care and pharmaceutical manufacturers.
“We believe there is an excellent strategic fit between the companies and that the added design, project management and operating expertise will allow us to provide an offering to the market that is unequalled,” said Jim Kotek, president and CEO of Menasha Corporation.
Rand is also particularly strong in the area of contract manufacturing, particularly in the areas of Food & Drug Administration and Drug Enforcement Administration.