Lauraville Packaging announces ownership change
Lauraville Packaging LLC, a newly formed subsidiary of Quarry Road Holdings LLC, has acquired all of the assets of Lauraville Specialty Products LLC in Geneva, N.Y. The transaction, which formally closed on Jan. 19, included Lauraville Specialty Products' manufacturing facilities and exclusive rights to the company’s product lines, services and national distribution chain.
“We are excited to announce the acquisition of a company that is uniquely positioned to meet both the opportunities and the competitive challenges facing the packaging industry today, particularly with respect to promotional packaging,” said James Mathewson, president and chief executive officer at Lauraville Packaging. “This acquisition will allow Lauraville to expand its industry footprint and to continue to develop innovative solutions to better serve current and prospective customers, while also bolstering a growing industry commitment to sustainable materials and green supply chain initiatives.”
Under the terms of the acquisition agreement, George A. Bastedo Jr., the former principal of Lauraville Specialty Products, will remain with the company as senior vice president of operations.
“I am very pleased to be a part of Lauraville going forward and to have the opportunity to continue to work with the customers and employees I have known well for the past 11 years,” says Bastedo. “My role will focus on sourcing cost-effective raw materials, including sustainable alternatives, and on monitoring day-to-day operations to ensure that efficiency and cost savings are captured and passed along to our customers.”
Lauraville Packaging LLC