ST. LOUIS – Anchor Packaging LLC has acquired Janesville, Wis.-based Panoramic Inc., a leading manufacturer of thermoformed products used in fresh food applications, including bakery, produce, and confectionery.
“We are pleased to announce the acquisition of Panoramic Inc, and we welcome all the Panoramic colleagues and customers to the Anchor Packaging family of companies,” said Jeff Wolff, president, and chief executive officer of Anchor Packaging. “This acquisition is strategically important to us for two reasons: It will significantly broaden our offering to attract bakery, produce, deli, and confectionery customers. Also, it expands our capabilities and speed to market across any size customer or project to support the growing needs of our customers.”
Over the past 14 years, Panoramic has grown at a double-digit annual rate alongside a diverse customer base, consisting of a wide range of regional and national food processors and retailers. Panoramic is known for its ability to service mid-sized customers, with creativity and speed to market.
Those competencies are highly complementary to the emphasis on innovation, custom design and velocity at Anchor Packaging, the company said. As a result of this combination, Anchor will be positioned to serve the combined base of customers, while providing a more comprehensive offering for the entire food industry, regardless of the size of customer, product, or project, across North America and beyond.
“I truly believe, from the bottom of my heart, this is the right thing to do for Panoramic Inc, and more importantly for all of our employees and our loyal customers,” said Rick Holznecht, the former President of Panoramic Inc. “We share a joint heritage in that both of our companies were founded and operated as Midwestern-based, family-owned businesses for many years. Anchor Packaging holds true to that same set of core values that we live by every day at Panoramic. This is an exciting new chapter for Panoramic Inc and an opportunity to grow with a family of companies that shares our customer-centric innovative vision.”