FOR IMMEDIATE RELEASE
June 15, 2011
Advance Packaging Corporation, Action Packaging, and Safeway Packaging Announce Formation of New Joint Venture
Kentwood, MI — Advance Packaging Corporation of Grand Rapids, MI, Action Packaging of Caledonia, MI and Safeway Packaging of New Bremen, OH announce the formation of a new joint venture. The joint venture includes the purchase by Butch Stoner and Kevin Manor, owners of Action Packaging and Safeway Packaging, of a minority interest in the Jackson, Michigan box plant owned by Advance Packaging. The new entity will be called APC Jackson, LLC.
This joint venture is designed to provide better asset and capacity utilization across the various manufacturing sites owned by the members. Supply agreements are in place between the members to take advantage of the unique capabilities of each operation. The joint venture transaction is scheduled to close on Friday, June 24.
The companies design, manufacture and deliver standard corrugated and chipboard paper packaging materials as well as graphics, retail display and kitted products. The companies collectively serve a geographical market encompassing all of Michigan, Ohio and Indiana. Revenues for the combined companies and joint venture will exceed $100 million in 2011.
Contact Information
Carol Hoyt, CEO, Advance Packaging Corporation - 616.949.6610
Don Crossley, President, Advance Packaging Corporation - 616.949.6610
Kevin Manor, Member/Owner, Action and Safeway Packaging - 419.629.3200
Butch Stoner, Member/Owner, Action and Safeway Packaging - 616.871.5200
