St. Louis-based packaging supplier TricorBraun said it entered into a definitive stock purchase agreement with funds managed by Ares Management Corp.’s Private Equity Group and Ontario Teachers’ Pension Plan Board. Ares and Ontario Teachers’ will acquire a majority interest in the company.

TricorBraun said its management team, including Executive Chairman Keith Strope and President and CEO Court Carruthers, will continue to lead the company following the close of the transaction. TricorBraun’s leadership team will also retain a significant investment in the company, as will its current majority owner, AEA Investors.