Palladin Consumer Retail Partners (PCRP) (pcrp.com) announced an investment in Decowraps in partnership with Steven Tchira, Founder and CEO. The partnership will provide Decowraps and its strong senior management team with additional resources to expand its position as the leading floral packaging company.
Decowraps was founded by Steven Tchira in 1999, is headquartered in Miami, FL, and has additional design, production, and distribution facilities in Colombia, The Netherlands, Ecuador, Kenya, and China. The company is a leading supplier to the floral industry, focusing primarily on larger retail organizations and their suppliers worldwide. In-house design and sample capabilities, global sourcing, vertical integration, and personalized customer service have enabled Decowraps to achieve superior recognition and results as a supplier of innovative packaging options for all levels of fresh cut flowers and potted plants. The company provides its customers with custom and stock designs including sustainable options and prides itself on satisfying all customer requirements.
Palladin, founded in 1998, has partnered with numerous founders and executive teams to build successful consumer platforms. The portfolio team led by Mark Schwartz, CEO, and Anders Petersen, Managing Director, together with their operating partners, will work closely with the company providing marketing, financial, systems, organizational development and other expertise to help management with the next stage of growth.
Steven Tchira, CEO of Decowraps, said, “The Palladin team brings a wealth of experience growing consumer brands in different market sectors. Being able to work with them marks a critical next step in our growth strategy. Their expertise and support will provide creative insights and operational improvements that will be instrumental in expanding our platform, including through acquisitions.”
Mark Schwartz, CEO of Palladin, added, “We are excited to partner with Steven and the entire Decowraps team. They have built the leading floral packaging company, are well-respected in the industry and positioned to accelerate growth. We are confident that, with additional capital and resources, we can work together to significantly expand Decowraps’ market position.”
Anders Petersen, Managing Director of Palladin commented, “We have been extremely impressed with the organization built by Steven. We have been exploring a variety of organic and acquisition opportunities both in the United States and internationally and look forward to working together.”
Deerpath Capital Management provided debt financing for the transaction, as well as an unfunded acquisition line and revolving credit facility to support future growth. Advisors to Palladin included Morgan, Lewis & Bockius for legal services, RSM US for accounting, Krauter & Company for insurance, Environmental Resources Management (ERM) for environmental, and Retail Technology Group for systems. The Company was advised by Cowen and Company, as well as Proskauer for legal and Grant Thornton for accounting.
For more information
Palladin Consumer Retail Partners, LLC (PCRP)
www.pcrp.com
Decowraps
www.decowraps.com