CHICAGO – Arbor Investments has completed its acquisition of Keyes Packaging Group, Inc., a provider of protective molded fiber and tissue wrap packaging for the food and beverage industry, Chicago-based Arbor Investments said July 1. Terms of the sale were withheld.

Based in Wenatchee, Wash., Keyes Packaging Group has one manufacturing facility in Wenatchee and one in Yakima, Wash. The company, founded in 1903, offers trays for such products as apples, other fruits and vegetables, eggs and wine. Tricor Pacific Capital, Inc. acquired the business in 2004.

“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 Investments, founded in 1909, is a private equity firm that focuses exclusively on acquiring companies in the food, beverage and packaging industries.

“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 chief executive officer 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.”

Arbor Investments also recently completed the acquisition of The New French Bakery, Inc., a specialty baker located in Minneapolis.