Mill Rock Packaging Acquires Keystone Paper & Box Company

Mill Rock Packaging Partners LLC (“Mill Rock Packaging”) announced today that it has acquired Keystone Paper & Box Company (“Keystone”), a leading specialty packaging company that manufactures custom folding cartons for consumer and healthcare end markets. Mill Rock Packaging, formed by Mill Rock Capital in 2020, is a growth-oriented specialty packaging company focused on leading design, innovation and technology, with strong operational capabilities and unparalleled customer service. The transaction marks Mill Rock Packaging’s expansion to the Eastern U.S. and its fourth acquisition. In connection with the transaction, Keystone’s leadership team has made a significant investment in Mill Rock Packaging. Management will remain with the company. Terms of the transaction were not disclosed.

Keystone, based in South Windsor, CT and founded in 1944, is a leading high-end paperboard packaging company focused on premium, multi-SKU, design-intensive packaging solutions and related services, including product engineering, prototyping and production. The company’s core offerings span a broad range of high-performance, sustainable, customized folding cartons for food and beverages, pharmaceuticals, health and beauty and other daily-use products. The company operates a state-of-the-art production facility with substantial capacity for growth.

“I am very proud of what we’ve achieved at Keystone since our founding by my grandfather,” said Jim Rutt, President of Keystone. “Through our partnership with Mill Rock Packaging, our customers will gain access to high-quality production facilities in the Midwest and West Coast. I am delighted that Mill Rock Packaging shares our commitment to quality, integrity and service, and I look forward to future growth leveraging our combined resources.”

Keystone marks the platform’s initial expansion to the East Coast and will integrate with Mill Rock Packaging’s other operations in the West and Midwest. The combined company will operate six production facilities offering design-intensive and sustainable paperboard packaging to an attractive range of daily needs-driven consumer markets.
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