Atlas Holdings Announces Sale of Saxco International
Atlas Holdings, a prominent player in various industries, has made a significant announcement regarding its operations. The company has entered into a definitive agreement to sell Saxco International, LLC, a leading value-added distributor in the packaging sector. The sale is to Novvia Group, which is strategically backed by Kelso & Company. This transaction is exciting and is expected to close in a timely manner, pending customary closing conditions.
Overview of Saxco International
Saxco, headquartered in Fairfield, California, has established itself as a predominant force in the rigid packaging market with a specific focus on beverages. Since its inception in 1936, Saxco has catered to over 5,000 loyal clients, including wineries, breweries, distilleries, and specialty food manufacturers across North America. The company is noted for its robust heritage in glass crafting and has transitioned to become an innovator in eco-friendly and sustainable packaging solutions.
Growth and Transformation at Saxco
Since joining the Atlas Holdings family in December 2019, Saxco has undergone substantial growth. The leadership team has worked diligently to enhance sourcing capabilities, broaden the customer base, and maintain strong client relationships that have flourished over decades. This commitment has resulted in Saxco achieving remarkable transformation, helping it reclaim its market position.
Insights from Leadership
Sam Astor, a partner at Atlas, expressed his pride in the collaborative journey with Saxco, praising the leadership and transformation achieved during their five-year partnership. He highlighted Saxco as an exemplary case of identifying opportunities for market leadership and also commended the strides they made together in diversifying supply networks and expanding customer service offerings.
Future Prospects
JB Berry, CEO of Saxco, also shared insights on the partnership, emphasizing the honor of leading such a distinguished business alongside the Atlas team. This collaboration has paved the way for a bright future filled with opportunities and continued success.
About Atlas Holdings
Atlas Holdings is headquartered in Greenwich, Connecticut, and has been operational since 2002. The company proudly owns and operates 26 businesses that employ over 50,000 associates across 350 locations globally. Atlas spans several sectors, including automotive, construction services, food manufacturing, and packaging, generating approximately $16 billion in annual revenues.
About Saxco International
Saxco International, LLC, stands out with a mission dedicated to "packaging customers’ dreams." With over 80 years of experience, Saxco specializes in providing diverse packaging solutions that cater to the wine, spirits, beer, and food industries. Its offerings include glass, metal, and plastic containers, closures, custom packaging, and mold development services. The company operates a wide network of support and fulfillment centers across the U.S., Canada, and Asia, earning accolades like the Best Bottles Supplier from Spirited Magazine.
Frequently Asked Questions
What is the significance of the sale of Saxco by Atlas Holdings?
The sale indicates a strategic move by Atlas Holdings to focus on enhancing the growth and sustainability of Saxco under Novvia Group, backed by Kelso & Company.
How long has Saxco been in the packaging industry?
Saxco has been operational since 1936, making it over 80 years of experience in the packaging sector.
What does Saxco specialize in?
Saxco specializes in rigid packaging solutions, primarily for the beverage market, offering a wide range of products including glass, metal, and plastic containers.
What are the anticipated benefits of this sale for Saxco?
This sale is expected to allow Saxco to leverage new opportunities for growth and enhance its service offerings, solidifying its market position further.
Where is the headquarters of Atlas Holdings located?
The headquarters of Atlas Holdings is situated in Greenwich, Connecticut, USA.
