Direct-to-aluminum-can digital printer Canworks, Inc. has been acquired by Milwaukee-based private equity firm Mason Wells, a deal that positions one of the beverage packaging sector's fastest-growing decorators for its next stage of national growth.
Founded in 2020 by brothers Ryan and Marshall Thompson, Canworks built its business around short-run flexibility and fast turnaround—capabilities that have become critical differentiators for beverage brands competing in crowded shelf sets. The company serves customers across energy drinks, wellness beverages, hydration products, craft beer, CBD and cannabis, ready-to-drink cocktails, seltzers, ciders, and kombucha, operating five facilities across Texas, Georgia, California, Missouri, and Connecticut.
Why the Deal Matters
For operators and suppliers tracking beverage industry packaging trends, the transaction signals sustained investor appetite for infrastructure that supports small and mid-size brands launching or scaling in high-growth drink categories. Short-run digital can printing removes a traditional barrier to entry—minimum order quantities from conventional can manufacturers—allowing craft producers and emerging brands to bring new SKUs to market without committing to mass production runs. As competition intensifies across RTD and functional beverage segments, that agility has real commercial value.
Marshall Thompson and Ryan Thompson, co-founders of Canworks, credited Mason Wells' experience scaling businesses at comparable inflection points as a key factor in selecting the buyer. "We are confident that Mason Wells' significant experience scaling businesses at similar inflection points as Canworks will further accelerate our mission," the founders said in a joint statement.
The Advisor's Role
Mesirow served as exclusive financial advisor to Canworks on the transaction. Rick Weil and Melanie Yermack, Managing Directors and Co-Heads of Packaging at Mesirow Investment Banking, led the deal alongside Director Christopher Yike. The Chicago-based firm has completed more than 225 packaging transactions over the past 25 years, making it one of the more active M&A advisors in the sector.
"Canworks has emerged as a fast-growing leader in aluminum can decorating solutions to the beverage industry," Weil and Yermack said. "Mason Wells' experience and resources make them a compelling partner, and we believe this partnership sets the stage for meaningful expansion."
Mason Wells, which has raised $2.4 billion across five buyout funds, is currently investing from its $767 million Fund V. The firm focuses on four sectors, with packaging materials and converting among its core areas of interest—making Canworks a strategic fit for its existing portfolio thesis.
For beverage producers and co-packers watching the restaurant and foodservice supply chain, the Canworks acquisition underscores the growing strategic value of agile, digitally enabled packaging partners as brands look to differentiate on-shelf and respond quickly to shifting consumer demand.
Written by Michael Politz, Author of Guide to Restaurant Success: The Proven Process for Starting Any Restaurant Business From Scratch to Success (ISBN: 978-1-119-66896-1), Founder of Food & Beverage Magazine, the leading online magazine and resource in the industry. Designer of the Bluetooth logo and recognized in Entrepreneur Magazine's "Top 40 Under 40" for founding American Wholesale Floral, Politz is also the Co-founder of the Proof Awards and the CPG Awards and a partner in numerous consumer brands across the food and beverage sector.
