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Business Description:
Keyes is a leading manufacturer of specialty packaging. The company produces molded fibre packaging for shipping apples, pears, avocados, berries, eggs and other sensitive fruits and vegetables, as well as wines; specialty chemically-treated tissues for storing and preserving fresh pears; and packaging for the specialty egg market.
Reason for Sale:
Keyes was owned by a private-equity firm who decided to monetize their investment.
Management Participation:
Management participates in a substantial equity incentive program that rewards them for achieving their stated growth objectives.
Investment Success:
Since Tricor’s acquisition of Keyes, Keyes has acquired a number of competitors, including the leading North American manufacturer of plastic egg packaging. In addition, Keyes has undertaken an expansion, grown its management team and entered new product lines.
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