Financial terms of the deal were not disclosed.
For over 70 years, TriState has provided corrugated packaging products and services to customers located in the Northeastern United States. The company operates out of three facilities in the Philadelphia-area. TriState has the capabilities to manufacture highly customized corrugated packaging of any size, including high-graphic packaging products through its ProCorr brand, and has recently installed a single-pass digital press.
The acquisition will expand Unicorr’s manufacturing footprint into Pennsylvania, offering increased capability and flexibility for both Unicorr and its customers.
“This acquisition strategically marks the next phase of growth for both Unicorr and TriState, and combining capabilities, services, and expertise across all locations will offer significant benefit to our customers,” said Hap Perkins, CEO of Unicorr. “The geographic expansion and strong cultural fit along with the potential for cross-selling opportunities makes the combined company well-positioned for growth.”
Unicorr, like TriState, is a multi-generation family-owned business. Perkins runs the business alongside his three sons, Matt, Nick, and Jim.
Allen Friedman, President of TriState, will remain with the company as the Vice President of TriState Container and Jim Perkins will be joining the TriState management team.
The TriState and ProCorr brands, which have long been established in the Philadelphia-area, will remain and TriState will operate as a subsidiary of Unicorr.
Friedman said, “My grandfather founded this company over 70 years ago and through the years the most important thing at TriState has always been the customer. I wanted to find a partner that shared these values and that would continue to steward the company in the right direction.
“Unicorr’s complementary capabilities and geography make them an obvious choice from a business perspective, but greater than that is their legacy as a family-owned business and their recognition in the market for serving their customers. I look forward to continuing with TriState, growing the combined entity, and preserving the legacy built by my grandfather alongside the Perkins family,” Friedman concluded.
Beyond being a strong cultural fit, the combined businesses will be able to provide virtually all types of corrugated packaging from standard brown box to high-end graphic packaging as well as sizes from mini to jumbo to customers based in the Northeast. Unicorr also provides protective packaging products consisting of foam, wood crates, and pallets, and supplies.
Founded in 1946, Unicorr is among the largest converters of custom corrugated products and protective packaging in the Northeast. Headquartered in North Haven, Connecticut, Unicorr has six manufacturing facilities in four different states with the ability to manufacture and distribute a wide range of packaging including corrugated containers, high graphic displays and retail packaging, wood crates and pallets, foam, distribution products, and more.
SOURCE: Unicorr Packaging Group