Rite Aid PBM biz may attract PE bidders; CORE Industrial wraps up packaging deal as sector recovers

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Rite Aid PBM biz may attract PE bidders; CORE Industrial wraps up packaging deal as sector recovers

Good morning, Hubsters. MK Flynn here with the Wire.

As PE Hub predicted recently, deals involving consumer packaging are making a comeback.

While the surge in online shopping during the pandemic fueled demand for consumer packaging, the sector saw a slowdown in deals earlier in the year, just like the overall M&A market. But we’re seeing signs that activity is picking up.

CORE Industrial Partners announced a new investment in a packaging provider this morning. I’ve got the details below.

Moving forward and switching sectors, the Elixir Rx Solutions pharmacy benefit manager business of bankrupt Rite Aid is expected to attract mid-market private equity interest via an auction later in November. PE Hub analyzes the business and explain why a PE buyer might be what the doctor ordered.

And I recently moderated a sponsored roundtable on Women in Private Equity, and I’ll share some insights from the conversation.

Let’s start with the deal of the day.

Wrap it up

CORE Industrial Partners just unveiled an investment in Century Box, a Methuen, Massachusetts-based provider of folding cartons for store-brand food and consumer products.

For more on the deal, as well as analysis of the sector from investment bank William Blair, upgrade to the premium version of the Wire.

Going once, going twice ….

The Elixir Rx Solutions pharmacy benefit manager (PBM) business of bankrupt Rite Aid is expected to attract mid-market private equity interest via a November 20 auction, said Nathan Ray, head of healthcare and life sciences M&A for West Monroe Partners, a Chicago-based digital services firm.

Read all about the auction and potential PE bidders by upgrading to the premium version of the Wire.

Who run the world? Girls

PE Hub and Buyouts recently hosted our inaugural Women in Private Equity roundtable sponsored by Withum, Vista Equity Partners, Grafine Partners and Harbourview Equity Partners.

I moderated the discussion, which included Sherrese Clarke Soares of HarbourView Equity Partners, Lauren Dillard of Vista Equity Partners, Elizabeth Weymouth of Grafine Partners, and Amanda McKenna of Withum.

PE Hub subscribers may read the full roundtable here.

That’s all for today. Obey Martin Manayiti will wrap up the week for you here tomorrow.

And I’ll see you Monday.

Cheers, MK

Read the full wire commentary on PE Hub ...

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