"We could not be more thrilled for Grupo Edid to join the Pretium team as part of our expansion into a rapidly growing market in Mexico," said Paul Kayser, President and CEO, and Julio Oropeza, VP Operations – Mexico Region, of Pretium. "Grupo Edid is recognized as a pioneer in the use of post-consumer recycled materials across its product lines, which aligned well with Pretium's core focus on sustainability and strategy to expand into Mexico. The Company has built a regional leadership in multi-use containers and closure systems with solutions that are highly complementary to Pretium's offerings. Additionally, Grupo Edid's thin-wall injection-molding and FSC-certified paperboard and micro-corrugated printed packaging divisions expand and enhance Pretium's capabilities. The quality and breadth of Grupo Edid's products, as well as scale of its operations, is a testament to the legacy the Edid family has built over the course of 35 years."
Headquartered in Lerma, Mexico, Grupo Edid provides sustainability-focused solutions with high-end, functional applications and serves over 300 customers across a diverse set of industries. The Company's products include blow and injection molded containers and closure systems, as well as high value printed micro-corrugated cardboard packaging Grupo Edid's leadership in sustainability is reflected in its distinction of "Empresa Socialmente Responsible," which is granted to companies and organizations from Mexico that meet a variety of stringent criteria that generally encompass economic, social, and environmental profitability and sustainability. Grupo Edid's entire leadership team is joining the Pretium team to help drive the new partnership through its next phase of growth.
"We are extremely excited to partner with Pretium, and we believe their culture and values align closely with the commitment to sustainability, innovation, and high-quality service that my family has worked hard to honor for all these years," added Isaac Edid, Chairman and CEO of Grupo Edid. "My family and I were only willing to sell Grupo Edid to the right partner who could continue executing on our vision for the business, and we believe we found the ideal partner in Pretium. We are excited to work with Paul Kayser and the Pretium team to not only continue, but meaningfully enhance our solutions to our customers, while also serving our employees and communities."
"In our pursuit to best service Pretium's customers across North America, we identified Grupo Edid as the ideal platform to expand Pretium's operations into Mexico given both companies' collective focus on delivering value-add, sustainable, and complete packaging solutions to our valued customers," said José E. Feliciano, Co-Founder and Managing Partner, and Arta Tabaee, Managing Director, of Clearlake. "We believe this strategic partnership will enable the combined platform to enhance Grupo Edid's customer solutions and production capabilities through Pretium's complementary products and technologies, while providing a strategic foothold for Pretium to best serve its existing customers with expanded operations in North America. We look forward to leveraging our O.P.S.® framework to ensure a smooth integration post-closing and continue driving accelerated growth for the platform."
The combination of Pretium and Grupo Edid represents the ninth acquisition for Pretium since 2014 and the second major acquisition this year, after having acquired Alpha Consolidated Holdings, Inc. in October. The transaction was financed with an add-on to Pretium's existing credit facility, led by Credit Suisse, the lead agent of Pretium's senior credit facilities.
www.pretiumpkg.com www.grupoedid.com www.clearlake.com
