Novvia Group has announced the acquisition of Saxco International, a rigid packaging solutions provider for the food and beverage market.
Saxco was founded in 1936 and is headquartered in Fairfield, California. It services a diversified customer of over 5,000 wineries, breweries, distilleries, and specialty food makers in North America.
The company has an extensive inventory of over 10,000 SKUs and maintains more than 1 million square feet of warehouse space across 20 fulfillment centers, ensuring that its products are distributed on time.
Saxco provides a wide range of packaging solutions, including glass, metal, and plastic containers, as well as value-added services like packaging design, demand planning, and case packing.
This acquisition represents Novvia's strategic foray into the consumer-focused rigid packaging industry, boosting its existing expertise in industrial and life sciences sectors.
JB Berry, founder and chairman of Saxco, commented: "From our first interaction with the Novvia team, we were impressed with the professionalism, fairness and efficiency of the diligence process and their focus on ensuring that Saxco can operate as a growth platform for Novvia, supported by the benefits and resources of a larger organisation".
Ken Roessler, Novvia's executive chairman, added: "The acquisition of Saxco marks a significant milestone in Novvia's history. We are excited to collaborate with the excellent Saxco team, bringing Novvia's organizational capabilities and extensive customer and supplier relationships to bear as we expand our consumer packaging offering."
CMI Research: Key Rigid Packaging Market Insights
According to Coherent Market Insights (CMI), the rigid packaging market is expected to exhibit a CAGR of 4.6% between 2024 and 2031, driven by rising demand for packaged food and beverages globally. The market, which was valued at approximately US$ 227.36 billion in 2024, is forecasted to exceed US$ 311.48 billion by 2031.
The increased demand for durable and safe packaging solutions across numerous industries, including food and beverages, medicines, personal care, and electronics, has principally driven the market.
Analyst Opinion: Strategic Role in Rigid Packaging Market Growth
According to senior consultant Kalpesh Gharte, demand from the food and beverage industries continues to drive the rigid packaging market.
Conclusion: Business Takeaways
Novvia's acquisition of Saxco boosts its position in the rigid packaging market by broadening its range and increasing its ability to service a variety of sectors. This transaction demonstrates the growing demand for creative packaging solutions, as well as the necessity of smart acquisitions in driving growth. Companies in the packaging industry can look into comparable opportunities to diversify their product offerings and remain competitive in a developing market.
