LDI Acquires Harbor Packaging Inc. of San DiegoDate : 10/02/2014
(MINNEAPOLIS) October 1, 2014 – Liberty Diversified International (LDI) has acquired San Diego-based Harbor Packaging Inc., a designer and manufacturer of corrugated packaging and Point of Purchase (POP) displays in Southern California and Mexico.
Harbor Packaging has manufacturing and warehousing facilities in the San Diego area (Poway, Calif.) as well as Tijuana and Mexicali, Mexico.
The Harbor Packaging brand will remain intact and will be managed as a sister company to LDI’s Liberty Carton-Mexico operation, which has manufacturing, warehousing and fulfillment functions in Mexicali. Leading the new organization will be Bob Walton, former Harbor Packaging president and CEO, who has been named LDI Vice President, Packaging, Southwest U.S. and Mexico. The combined Harbor operations employ approximately 225 people, with slightly more than half in the U.S.
According to Mike Fiterman, LDI Chairman and CEO, “This acquisition is an excellent strategic fit because of growing packaging market opportunities in the region. Our companies also share a common culture and value system.”
Fiterman said the purchase of Harbor Packaging aligns perfectly with LDI’s strategy to grow internally as well as through acquisitions both in the United States and the international marketplace.
Because both businesses are privately owned, terms of the deal are not revealed.
Frank Porcelli, Harbor Packaging’s founder and owner, said, “It was time for us to team up with a larger organization to fully serve our customers. We saw a great fit with LDI because of our complementary lines of business, our shared vision for sustainable packaging and our common customer service values.”
Products and services sold by the combined operation in the Southwest U.S. and Mexico will include stock containers, custom packaging, printing/labeling, custom package design, plus fulfillment and logistics for timely delivery.
Liberty Diversified International is a privately-held family of businesses with more than 1,600 employees operating in the following industries: paper and packaging; furnishings and organization products for the office; building and architectural products; and precision machining. With roots in the corrugated fiberboard business, the company was founded in 1918 and is headquartered in New Hope, MN. To learn more, visit www.libertydiversified.com.