"Our acquisition of Solo will allow us to provide even greater value to our customers in the future," said Dart Container CEO Robert C. Dart. "It will enable customers to purchase a wider range of products, made from a greater variety of materials with varying functional and environmental attributes—all from a single vendor. Both companies have an extensive history in the industry and will bring together valuable experience, traditions, and complementary, high-quality products."
Robert M. Korzenski, CEO, Solo Cup Co., noted that "Solo has made great strides over the past several years in improving its operating efficiency, information systems, and the caliber of the talent within the organization. Dart's leadership team has shown a high level of respect for what Solo has accomplished and I believe we are putting the company in the right hands to succeed and grow going forward."
Dart added that "Dart Container's acquisition of Solo will accelerate the progress Solo has made to improve its levels of service and customer support. We will use our expertise in running a successful, efficient, reliable, and service-oriented company to create an organization that blends the best of both Dart and Solo for the benefit of our customers." According to Dart, a top priority is bringing together the talents and skills of employees from both organizations to ensure that customers continue to receive exceptionally reliable service.
"These are two companies with strong histories of innovation and quality that have invested in the industry and in their customers," said Robert L. Hulseman, chairman emeritus, Solo Cup Co. "I am very proud of this company's contributions to the foodservice packaging industry and extremely pleased that many of Solo's dedicated employees will have the opportunity to continue making a difference for our customers. This is a positive outcome for everyone involved."
Solo is majority-owned by the family of its founder, Leo J. Hulseman, and is also a portfolio company of Vestar Capital Partners IV, L.P. Dart Container is a privately owned company founded by William A. Dart. The integrated organization will be a private company known as Dart Container Corp. Dart expects to continue offering Products under the Solo brand, including the iconic red Solo cup.
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