U.S. Corrugated acquires majority interest in Corrugated and Packaging

U.S. Corrugated, Inc. (USC) announced the acquisition of a majority interest in Corrugated and Packaging LLC (C&P), Tijuana, Baja California, Mexico.

Corrugated and Packaging operates a full-service corrugated sheet plant and a foam fabrication/extrusion operation in Tijuana, a distribution center in Mexicali, and a foam facility in Vista, CA. The equity investment was made in collaboration with Michael Feterik, a 40-year industry veteran and the former Principal Shareholder and CEO of Orange County Container Group, who will serve as the CEO of C&P.

C&P was founded in 2014 by David Ortiz, Santiago Fernandez, and Ruben Villegas, all former colleagues at OCCG. They will continue as Shareholders of the Company and will lead and operate the business on a daily basis. C&P services the Maquiladora Region and Southern California with a full range of corrugated and resin-based packaging products.

“The investment by USC will provide C&P with the capital to broaden its manufacturing capabilities, expanding the range of product offerings, as well as Working Capital needed to support the anticipated growth in sales volume”, said Mr. Feterik. “Further, the affiliation with the USC Super Plant recently constructed in Santa Fe Springs will allow C&P to participate in larger quantity opportunities within its existing customer base” he added.