Bear Stearns Merchant Banking Announces the Acquisition of The John Henry Company
Press release from the issuing company
NEW YORK & LANSING, Mich.--Jan. 7, 2005-- Bear Stearns Merchant Banking today announced the acquisition of The John Henry Company ("John Henry"). Founded in 1912, John Henry is a leading specialty printing and packaging company serving the pharmaceutical, horticulture and floriculture markets. The company employs over 1,000 people with facilities throughout the United States.
"This is another important step in our mission to best serve the global needs of our customers and continue to be a leader in our industry while providing a rewarding workplace for our employees," said Shahriar Ghoddousi, Chief Executive Officer and President of John Henry. "We believe our relationship with Bear Stearns Merchant Banking is ideal for building an even stronger position within our industry."
"With the financial support and business expertise of Bear Stearns and Jefferson Capital, we will accelerate our efforts to become a dominant leader in the packaging printing industry. This will include continued investment in the latest printing technologies, security and RFID solutions as well as information management systems required to support our customers' needs to drive down total costs related to printed components," said Tim Schultz, President of the John Henry Company's Packaging Division. "In addition, we are now well-positioned to expand our efforts to develop and acquire operations close to our customers, no matter where they operate, further expand our product offerings while continuing to enhance our quality systems."
The John Henry Company manufactures a full line of packaging components for the healthcare consumer market, predominantly for over-the-counter pharmaceuticals and medical devices. Its grower division manufactures and sells over two billion grower tags annually for flowers, trees and shrubs, which display a picture of the plant and information about variety and care. Through its floral division, John Henry designs, produces and distributes image and paper products to florists, including customized stationery and printed cards.
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