EXTON, PA — AmerCareRoyal, backed by HCI Equity Partners, announced it recently acquired Ross & Wallace Paper Products, Inc. AmerCareRoyal is a leading supplier of disposable foodservice supplies, gloves and take-out packaging. Ross & Wallace is AmerCareRoyal’s seventh add-on acquisition since HCI’s initial investment. Financial terms were not disclosed.
Ross & Wallace Paper Products is a US manufacturer of paper grocery and merchandise bags, SOS grocery sacks and paper roll products. The Company serves the grocery, convenience store and other foodservice industries. Founded in 1951 and entirely owned by the Ross Family, the Company is based in Hammond, Louisiana, outside New Orleans.
“We are very excited the Ross & Wallace team has joined AmerCareRoyal,” said Scott Milberg, CEO of AmerCareRoyal. “This development significantly extends the scope and capability of the North American foodservice industry’s leading single-stream resource for disposable products. It is an extraordinary day in the proud histories of AmerCareRoyal and Ross & Wallace.”
“Becoming a part of the AmerCareRoyal team provides Ross & Wallace with an exciting opportunity to combine our resources and utilize our shared values to begin the next chapter of growth,” said Megan Manning, Ross & Wallace CEO. “As a company with a proud history of committing to quality and customer service, we believe this acquisition positions both companies to better serve our customers.”
HCI Managing Partner, Doug McCormick, commented, “We appreciate that Ross & Wallace has chosen to join HCI’s AmerCareRoyal group. We have a strong commitment to partnering with forward-looking founders such as the Ross Family and believe AmerCareRoyal can provide new resources not only to sustain a generational legacy of success but accelerate the company’s growth. HCI’s track record demonstrates that we help companies grow, innovate, and better compete in today’s markets, and we are confident that Ross & Wallace and their management team will become a valuable part of AmerCareRoyal.”
Greenberg Traurig served as legal counsel to ACR. Generational Equity acted as the financial advisor to Ross & Wallace and Seale & Ross, PLC served as legal counsel.
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