Imperial Bag & Paper Co., LLC Acquires Morton Paper Co., Inc.
New York (PRWEB) July 01, 2013 -- Robert Tillis, CEO of Imperial Bag & Paper Co., LLC, the largest independent distributor of food service products and janitorial supplies in the Northeast, announced the acquisition of Morton Paper Co., Inc., located in Brooklyn, New York. The closing is scheduled for July 31, 2013. Mr. Tillis anticipates that “the combined businesses will generate in excess of $325 million in annual revenue.”
Mr. Tillis also announced that Imperial Bag & Paper has taken an additional 139,000 square feet in the Pulaski Distribution Center, in Jersey City, NJ. This state-of-the art LEED certified facility is currently under construction and will open 2014. Imperial Bag & Paper will now occupy 535,000 square feet in the new building strategically located four miles from the Port of New York/New Jersey, near Newark Airport and approximately three miles from New York City and the New Jersey Turnpike.
The acquisition by Imperial Bag & Paper will expand its category strengths to now include retail items as Morton Paper is a major distributor of retail and paper goods in the Metro New York area. Imperial Bag & Paper is an established foodservice and janitorial distributor with local, regional and national accounts.
By providing a vast array of quality products at competitive prices at an exceptional level of service, Imperial Bag & Paper has grown its business 250% over the past five years. Imperial Bag & Paper and Morton Paper will continue to operate under their respective names. The management and the sales force of the two companies will remain unchanged.
Mr. Tillis stated, “With the addition of Morton Paper’s experienced and knowledgeable sales force, the combined company will provide distribution solutions offering a much broader range of products and services. We strive to be the most responsive and knowledgeable retail, foodservice disposables and janitorial supplies distributor in the country. Imperial Bag and Morton Paper share a similar strategic focus on delivering outstanding service to our customers. We welcome the Morton Paper team as we grow the business together.”
“Morton looks forward to partnering with the management team at Imperial,” said John Hunter, President of Morton. “We are excited to bring new opportunities to our customers and employees, while at the same time maintaining our traditions of service, responsiveness and expertise,” stated Craig Pio, Vice President of Morton.
“The Morton acquisition is in line with Imperial’s strategy to continue as the best provider of retail products, packaging, janitorial and shipping supplies to diversified customers and markets in the tri-state area, as well as growing our presence with National Accounts,” said Jason Tillis, President of Imperial. In the past five years, Imperial has acquired and merged with five companies expanding their product diversity and growing their markets.
“Imperial will continue to look for other strategic acquisitions that enhance our ability to service key markets and our customers,” stated Jason Tillis.
Imperial Bag & Paper Co., LLC, is the largest retail, foodservice and janitorial distributor under one roof in the United States. About 10% of their clients are national and they include restaurant chains and national retailers such as Modell’s and Party City.
Founded in 1935, Imperial Bag & Paper has built a reputation for excellent service and quality. Imperial offers a superior selection of retail, paper, packaging & janitorial products. The innovative company is committed to thinking outside the box when consulting with customers to satisfy their current and future needs.
For additional information regarding Imperial Bag & Paper Co., LLC, visit our website http://www.imperialbag.com or contact Paul Cervino, CFO at PCervino(at)imperialbag(dot)com
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Robert S. Wolf, Moses & Singer LLP, 212-554-7825, [email protected]
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