Mason Wells Acquires Accord Carton
Milwaukee, WI , September 18 2023
Mason Wells announced today that it has closed the acquisition of Accord Carton, LLC (“Accord” or the “Company”). Accord is a leading folding carton converter primarily serving food and beverage end markets. The Company will be owned by Mason Wells, members of the Codo family, and other board members and co-investors.
Accord was founded in 1940 by Abraham Codo, the grandfather to third-generation brothers, Robert and Bill Codo, who have been leading the business for nearly 30 years. Accord designs and manufactures custom folding cartons for private label and branded consumer goods, primarily focused on food and beverage end markets. Food and beverage applications include packaging for dry foods, frozen foods, and can and bottle wraps and baskets for beer, seltzer, cocktail, energy drink, and other specialty beverage items. Accord has a unique position within the folding carton industry offering large format production capabilities coupled with industry-leading responsiveness, speed, and flexibility. Accord serves global and regional consumer packaged goods companies throughout North America. The Company’s headquarters and operations are located in Alsip, IL.
Since 1998, Mason Wells has invested in numerous Midwest-based companies in the packaging materials and converting sector supporting family ownership transitions.
“We are excited about the opportunity to partner with Mason Wells and continue the Company’s growth,” said Robert Codo. “Their experience successfully building packaging businesses will provide Accord the resources to support its long-term growth initiatives. We look forward to building upon Accord’s world-class capabilities to continue providing top-notch service to existing and new customers.”
“Accord is a special company with a customer-centric culture that’s unmatched in its industry,” said Damon Thome, Director at Mason Wells. “Accord’s management, employees, and suppliers are all critical factors that have allowed the Company to consistently exceed the expectations of its customers. We believe Accord is well positioned to continue this success through attractive sector growth trends, a unique market position, and well-invested manufacturing operations.”
Deloitte Corporate Finance represented Accord and Quarles & Brady represented Mason Wells in the transaction.
Accord designs and manufactures custom folding cartons for private label and branded consumer goods, primarily serving food and beverage end markets. With its headquarters facility located in Alsip, IL, Accord has been focused on delivering superior quality and customer service to its consumer packaged goods customers for more than 80 years. For more information, please visit the Accord Carton website at www.accordcarton.com.
Mason Wells is a Milwaukee-based private equity firm that has raised $2.4 billion in aggregate across five independent buyout funds. The firm is currently investing out of Mason Wells Buyout Fund V, a $767 million fund. Since Mason Wells was formed in 1998, its buyout funds have invested in four specific industry sectors: Consumer Packaged Goods, Outsourced Business Services, Engineered Products & Services, and Packaging Materials & Converting. For more information related to Mason Wells, please visit the firm’s website at www.masonwells.com.