Arbor Investments Announces the Acquisition of Keyes Packaging Group, Inc.

July 1, 2013

Arbor Investments, based in Chicago, Illinois, announced today that it has completed the acquisition of Keyes Packaging Group, Inc. (“Keyes” or the “Company”). Keyes, headquartered in Wenatchee, Washington, is the leading provider of protective molded fiber and tissue wrap packaging for the food and beverage industry. The Company’s products play a critical role in protecting high-value food items during the shipping process and present a superior value and sustainable option compared to alternative packaging formats. The Company operates out of two manufacturing facilities, one in Wenatchee, Washington and one in Yakima, Washington. Terms of the sale were withheld.

Keyes has an outstanding reputation as the market leader in the molded fiber products arena and also in protective tissue for highly perishable products. Founded in 1903, the Company has a long and rich history in the packaging industry. Keyes has built its reputation by providing high quality products in a timely manner throughout the agriculture and wine industries.

“We were attracted to Keyes due to the Company’s excellent market position, superior product quality and unparalleled reputation in the packaging industry,” said Richard Boos of Arbor Investments. “The Company has expanded profitably under the ownership of Tricor Pacific Capital, and we are thrilled to partner with the management team in their next phase of growth.”

“Arbor’s extensive experience in the food, beverage and packaging industries made them a perfect partner for Keyes, our management team, employees and customers,” said Rebecca Kalis, President and CEO of Keyes. “We are proud of what we have accomplished during the last several years, and we are looking forward to teaming with Arbor to move Keyes forward in its next chapter.”

“We are very pleased to be investing in Keyes,” said Gregory Purcell of Arbor Investments. “This acquisition is a rare opportunity to purchase the market leader in its industry.”