MSI Completes Third Add-on Acquisition
PORTAGE, IN, October 26, 2021 – MSI Express (“MSI”), backed by HCI Equity Partners, announced today it acquired select operating assets from PacMoore Products, Inc. (“PacMoore” or the “Company”), a founder-owned business, on October 25, 2021. MSI Express is a leading provider of contract packaging and contract manufacturing services, primarily for well-known CPG brands in the liquid and dry food space. PacMoore represents the third add-on acquisition for MSI following HCI’s initial investment in 2018. Financial terms were not disclosed.
MSI acquired all of PacMoore’s contract manufacturing operations located in Hammond, Indiana. PacMoore provides co-manufacturing and co-packaging services similar to MSI’s core business and is located near the rest of MSI’s Indiana facilities. The deal adds capacity and operating capabilities for MSI’s rapidly growing customer needs. The broader PacMoore company is being sold to another buyer who views this operation as non-core to the rest of the Company’s ingredients business.
“PacMoore has built a reputation for excellence within the contract manufacturing industry,” said Charles Weinberg, CEO of MSI. “We are delighted they are joining the MSI family and look forward to building on the legacy of Bill Moore, the CEO and Founder of PacMoore.”
Doug McCormick, HCI’s Managing Partner commented, “PacMoore provides access to new customers and channels and is consistent with our consolidation strategy of adding capacity and complementary capabilities to better serve our growing roster of blue-chip CPG customers. We are excited to welcome the PacMoore team to the combined organization.”
Holland and Knight served as legal counsel to MSI Express. Craig-Hallum Capital Group LLC acted as financial advisor to PacMoore on the transaction.
About MSI Express
MSI Express provides contract packaging and contract manufacturing primarily of well-known CPG brands in the liquid and dry food space. Headquartered in Portage, Indiana, MSI Express’ core capabilities include dry mixing and blending, flexible pouches and sachets, liquid blending and filling, standcap pouching, canister filing, lidding, cup filling and pet food filling. For more information, please visit www.msiexpress.com.