Saxco to be acquired by Novvia Group
Deal News | Jan 09, 2025 | Atlas Holdings LLC
Atlas Holdings LLC has signed a definitive agreement to sell Saxco International, LLC to Novvia Group, which is supported by Kelso & Company. The deal is expected to be finalized in the first quarter of 2025, pending customary closing conditions. Saxco, based in Fairfield, California, has been a prominent distributor of rigid packaging since 1936, concentrating mainly on the beverage market. With a strong emphasis on eco-friendly and sustainable packaging, Saxco boasts a robust customer base across North America, comprised of over 5,000 wineries, brewers, and distillers. Under Atlas's ownership from December 2019, Saxco has seen significant growth in sourcing capabilities and client diversification. Atlas partner Sam Astor praised the successful partnership and acknowledged Saxco's strategic advancements, highlighting its market leadership and expanding service offerings. CEO JB Berry expressed optimism for Saxco's future growth following the sale.
Sectors
- Packaging
- Private Equity
- Beverage
Geography
- United States – Saxco is headquartered in Fairfield, California, and the transaction involves companies operating within the U.S.
- North America – Saxco serves a wide customer base across North America, indicating its regional market presence.
Industry
- Packaging – The article focuses on Saxco, a company specializing in rigid packaging solutions for the beverage market, highlighting its industry role.
- Private Equity – Atlas Holdings, a private equity firm, is selling Saxco, showcasing the PE aspect of the transaction.
- Beverage – Saxco's primary market focus is on the beverage industry, serving wineries, brewers, and distillers.
Financials
- Not disclosed – The terms of the sale between Atlas Holdings and Novvia Group have not been made public.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Atlas Holdings LLC | Selling Company | Company | Private equity firm selling Saxco International, LLC. |
| Saxco International, LLC | Target Company | Company | A leading distributor of rigid packaging focused on the beverage industry. |
| Novvia Group | Bidding Company | Company | Company acquiring Saxco International, backed by Kelso & Company. |
| Kelso & Company | Private Equity Backer | Company | Private equity firm backing the acquisition by Novvia Group. |
| JB Berry | CEO | Person | CEO of Saxco International, overseeing the business's operations and growth. |
| Sam Astor | Partner | Person | Partner at Atlas Holdings commenting on the transaction. |