CHICAGO, March 17, 2016 – Mesirow Financial acted as the exclusive financial advisor to Drake Alliance Corporation (d/b/a “Drake Container” referred to herein as “Drake” or the “Company”), on its sale to Buckeye Corrugated, Inc. (“BCI”), an Ohio-based designer and manufacturer of corrugated packaging and displays.
Headquartered in Houston, Texas, Drake is an innovative designer and manufacturer of graphic-intensive corrugated packaging, display and signage solutions for high-profile retail environments. The Company has distinguished itself in the market by offering a comprehensive suite of integrated packaging solutions ranging from design to in-store.
Doug Bosnik, CEO of BCI, commented on the transaction, “The associates at Drake have built a solid business with an excellent market reputation that we felt would fit nicely with our family of companies. Drake will continue to operate as an independent sheet plant under our decentralized operating structure, where we expect that they will continue to grow and prosper in their regional market. We are excited about the acquisition and happy to have them join the BCI family.”
Dave Gaidousek, president of Drake, commented, “We look forward to becoming part of the BCI family, and value their commitment to furthering the Company’s long-term growth objectives.” John Carrico, CEO of Drake, added, “Mesirow Financial’s in-depth knowledge of the packaging industry and expert guidance throughout the process were instrumental in pairing our company with the right partners and securing a successful outcome for shareholders.”
“Mesirow Financial was honored to represent the owners of Drake in this transaction,” stated Bill Hornell, managing director of Mesirow Financial’s Investment Banking group. “Our deep experience and strong relationships within the corrugated packaging industry allowed us to run a process that paired Drake with the ideal strategic partner, providing a strong foundation for continued success.”
The transaction represents another successful assignment completed by Mesirow Financial’s Investment Banking group. Mesirow Financial is one of the most active advisors in the paper, plastics, packaging and specialty printing sectors, having completed over 100 transactions in recent years.
About Buckeye Corrugated, Inc.
BCI is a leading designer and manufacturer of corrugated packaging and displays. BCI is a privately-held, employee-owned company with nine corrugated manufacturing facilities, a specialty packaging supplies business and a sales and design center. Located in nine Midwestern and Southern states, these independently managed businesses supply a diverse range of customers with custom-designed corrugated packaging, point-of-purchase displays and point-of-sale packaging. For more information, visit bcipkg.com.
About Drake Alliance Corporation
Drake is comprised of four divisions: Drake Ideas, Drake Container, Drake Pack and Drake Display. These divisions offer customized services ranging from graphic packaging to in-store retail display solutions. For more information, visit thedrakecompany.com.