PMCF Announces Sale of Grand Traverse Container, Inc. to Green Bay Packaging Inc.
Southfield, MI – August 1, 2018 – P&M Corporate Finance (PMCF) is pleased to announce the sale of Grand Traverse Container, Inc. (“GTC” or the “Company”) to Green Bay Packaging Inc. (“Green Bay Packaging”). Headquartered in Traverse City, Michigan, GTC manufactures corrugated packaging for the Michigan, northern Ohio, and northern Indiana markets.
GTC was founded in 1995 by Tom Schofield and Mike Chereskin and has consistently grown at a rate faster than the market for over 20 years. The Company provides its customers with a range of custom corrugated packaging options via broad manufacturing capabilities and a differentiated service model. GTC serves its customers from two strategically located corrugated converting facilities in Traverse City, MI (90,000 sq. ft.) and Grand Rapids, MI (155,000 sq. ft.). The company also has an owned and operated fleet of trucks, which allows it to be highly responsive to customer requirements.
Tom Schofield and Mike Chereskin commented, “Our investment in the talented team of people at Grand Traverse Container exemplifies our commitment to serve customers across the upper Midwest. Leveraging our market leading technology, management information, and skilled professionals, Green Bay Packaging complements our existing presence as we continue to grow. This is a wonderful opportunity for our business and our clients, and we look forward to partnering with Green Bay Packaging.” Grand Traverse Container will continue to be led by Tom Schofield and Mike Chereskin.
Tom and Mike selected John Hart and PMCF’s Plastics & Packaging Group to serve as GTC’s M&A advisor / investment banker in the transaction. Mike Chereskin noted, “We couldn’t be happier with our decision to select PMCF as our M&A advisor. John and his team were instrumental in the successful outcome of this transaction and their packaging expertise proved to be very valuable. We would undoubtedly recommend PMCF to any other packaging businesses considering a transaction.”