SOURCE: Lauraville Packaging

Lauraville Packaging

March 16, 2010 07:00 ET

Lauraville Announces Change in Ownership and Roll-Out of Green Initiatives

Company's Promotional Packaging Capabilities Positioned to Meet Packaging Industry's Growing Need for Sustainable, Cost-Effective Solutions

SYRACUSE, NY--(Marketwire - March 16, 2010) -  Lauraville Packaging, LLC, a newly-formed subsidiary of Quarry Road Holdings, LLC, announced today that it has acquired all of the assets of Geneva, New York-based packaging company Lauraville Specialty Products, LLC, including manufacturing facilities located in Geneva and exclusive rights to the company's product lines, services and national distribution chain. The transaction closed on January 19, 2010.

"We are excited to announce the acquisition of a company that is uniquely positioned to meet both the opportunities and the competitive challenges facing the packaging industry today, particularly with respect to promotional packaging," said James Mathewson, President and CEO, Lauraville Packaging. "This acquisition will allow Lauraville to expand its industry footprint and to continue to develop innovative solutions to better serve current and prospective customers, while also bolstering a growing industry commitment to sustainable materials and green supply chain initiatives."

Under the terms of the acquisition agreement, the former principal of Lauraville Specialty Products, George A. Bastedo, Jr., will remain with the company as Senior Vice President of Operations.

"I am very pleased to be a part of Lauraville going forward and to have the opportunity to continue to work with the customers and employees I have known well for the past eleven years," said Bastedo. "My role will focus on sourcing cost-effective raw materials, including sustainable alternatives, and on monitoring day-to-day operations to ensure that efficiency and cost savings are captured and passed along to our customers."

Lauraville Packaging, LLC provides custom manufactured adhesive-backed packaging solutions, meeting consumer demand for more challenging and eye-catching promotional packaging via its Smart-Pak® and Versa-Label® product lines. Lauraville's end customers include international and domestic manufacturers and distributors of consumer products, household appliances and agrochemical products as well as promotional, marketing, commercial printing and labeling firms. Its adhesive-backed solutions encapsulate various items relevant to multiple industries, including gift or membership cards, promotional DVDs, flash drives, coupons and informational and instruction booklets. The business dates to 1983, when its predecessor, Northeast Packaging, began encapsulating product information booklets for the agrochemical industry in Rochester, New York. Lauraville is a wholly owned subsidiary of Quarry Road Holdings, LLC, and maintains its corporate headquarters in Syracuse, New York, with manufacturing and warehousing facilities located in Geneva, New York.

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