In a deal that will combine two large distributors, foodservice disposables & JanSan products company BradyIFS will merge with JanSan & packaging supplies company Envoy Solutions, according to a joint announcement.
Financial terms of the agreement were not disclosed.
Both companies have been regulars on MDM’s annual Top Distributors Lists. Both appeared on the unranked 2023 list for Top JanSan Distributors, and the two companies also have grown in recent years via acquisitions.
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“This transformational partnership will enable us to expand our market reach and further improve our collective capabilities,” said Kenneth D. Sweder, Chairman and Chief Executive Officer of BradyIFS. “Envoy Solutions is an impressive business that is highly complementary to BradyIFS. As important, it has great leadership. Mark Fisher and his team are first-class, and we are fortunate to partner with their incredible team of associates. Our two companies are like-minded as we share similar values, culture, and a passion for delivering the best to our customers. Combining our companies to become one will unlock tremendous value and benefit our teams, our customers, and our suppliers. I want to welcome Envoy Solutions, Warburg Pincus, and FEMSA to BradyIFS and to thank Kelso for their continued partnership and support.”
The companies said the agreement will result in “one of the country’s most balanced providers of foodservice disposables and JanSan products and will expand BradyIFS’ reach into industrial packaging.”
BradyIFS and Envoy Solutions said the deal will have many benefits, including:
- Further end market and geographic diversification.
- Additional scale.
- The ability to cross-sell a broader range of highly complementary product portfolios to customers.
- Improved exclusive branded product offerings and global sourcing capabilities.
- A significant expansion of the distribution footprint with over 175 facilities.
- Additional leadership talent and depth.
“I’m excited to partner with BradyIFS,” said Mark M. Fisher, CEO of Envoy Solutions. “I look forward to working with Ken and his team to accelerate our growth by combining our resources and expertise, enhancing our value proposition, and deploying even more capital in support of growth. This partnership honors and enhances Envoy Solutions and provides exciting opportunities for our entire team.”
M&A activity in the past few years has helped both distributors grow. The merger with Envoy Solutions marks BradyIFS’ sixth deal in 2023, after also reaching six deals in 2022. Envoy Solutions also has made six acquisitions in 2023, after making 16 deals last year.
BradyIFS noted in July 2022 that it had surpassed $1.3 billion in annual revenues, but hasn’t provided an update since.