Acquisition Expands Product Offerings and Strategic Sourcing Capabilities and Underscores Corporate Sustainability Mission
Supply chain service providers HAVI Group, LP, announced it has acquired Pacific Market International, LLC (“PMI Worldwide”), a global manufacturer of sustainable food and beverage container solutions. The acquisition further expands HAVI’s role and offerings as a leader in product development and strategic sourcing serving the world’s largest global foodservice brands.
“We are thrilled to announce the acquisition of PMI Worldwide as both companies have similar, strong cultures and values and are passionate about serving our customers in extraordinary ways,” said HAVI Chief Executive Officer Frank Ravndal. “The combination of our businesses will deliver best-in-class sourcing and complementary supply chain leadership capabilities around the world.”
Founded in 1983, PMI Worldwide has a longstanding reputation for excellence with its customers, providing innovative beverageware and food container solutions to global foodservice brands and retailers. Their two most recognizable consumer brands are Stanley® and Aladdin®, sold in over 60 countries around the world. PMI Worldwide employs more than 700 people in seven countries.
“I am incredibly proud of the PMI team and their achievement of phenomenal growth,” said PMI Worldwide CEO Bob Keller. “We’re excited to join the HAVI team to become an even stronger global company. HAVI’s purpose, values, and focus on sustainability closely align with ours. The combination of the two companies creates even more value for customers and opportunities for future growth and innovation.”
Rob Harris, Chairman and Founder of PMI Worldwide, said: “I am thrilled that PMI has been acquired by a company that cares deeply about its employees and customers, with a commitment to corporate citizenship and sustainability. I am confident that under HAVI’s leadership, PMI will continue to prosper and add tremendous value to our consumers and the greater global marketplace.”
“This acquisition not only expands and enriches our offerings but also underscores our commitment to sustainability,” said HAVI Chairman and General Partner Russ Smyth. “When you combine our knowledge and capabilities in sustainable materials, products, and supply chain operations with the increased scale of our combined customer bases – then the possibilities to create positive change in the world are exciting and inspiring.”
Acquisitions like PMI Worldwide and other corporate investment activities are part of HAVI’s strategy for continuously building capabilities and pursuing growth. The company will continue to pursue opportunities that have the potential to enhance customer offerings and support new growth for employees.
Under the new structure, PMI Worldwide will continue to be managed by the existing leadership team and will operate as a new HAVI business unit reporting to HAVI CEO Frank Ravndal.
J.P. Morgan served as financial advisor, and Neal Gerber Eisenberg, LLP, acted as legal counsel to HAVI. Baird served as financial advisor, and Perkins Coie, LLP, acted as legal counsel to PMI Worldwide.