Master Packaging, Inc.
How we got $6.4M
Based on its 31 employees and its payroll, both reported for PPP in 2020 and brought up to date.
What we know
Signs of a sale Some signs of a sale
- In business 39 years (since 1987)
From public records and the company's website, not a statement that it's for sale.
What they do
Master Packaging, Inc. is a Tulsa, Oklahoma packaging distributor offering custom packaging solutions, supplies, equipment, inventory management and warehousing to businesses of all sizes. It is independently owned and operated since 1987.
From the company's website. Industry: Other Miscellaneous Nondurable Goods Merchant Wholesalers.
Customers & suppliers
Possible customers nearby
The largest businesses within about 60 miles in the markets its website says it serves.
- Laredo Petroleum · Tulsa, 5 mi · $1.95B
- Aaon, Inc. · Tulsa, 6 mi · $1.44B
- JCL SAFETY SERVICES, LLC · Tulsa, 6 mi · $1.02B
- XCALIBER INTERNATIONAL, LTD · Pryor, 37 mi · $615.2M
- KELVION INC. · Catoosa, 11 mi · $614.3M
Estimated value over time
▲ 9% since 2020Today's estimate scaled by the headcount reported each year and that year's prices. A trend, not a record of past sale values.
Employees over time
▼ 10% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 31 | $22.3M |
| 2020 | Form 5500 | 22 | $15.8M |
| 2021 | Form 5500 | 22 | $15.8M |
| 2022 | Form 5500 | 23 | $16.5M |
| 2023 | Form 5500 | 22 | $15.8M |
| 2024 | Form 5500 | 24 | $17.2M |
| 2025 | Form 5500 | 28 | $20.1M |
Participants are employees in the company's retirement plan at year end, from its Form 5500 filing with the Department of Labor. They usually run a little under total headcount (part-timers and new hires may not be eligible). Revenue and EBITDA apply this industry's revenue per employee and margin to each year's count.
Compared with similar businesses nearby
| Business | Est. revenue | Distance |
|---|---|---|
| MASTER PACKAGING, INC. this business | $35.3M | — |
| CAMPBELL WHOLESALE COMPANY, INC. Tulsa · 34 employees | $65.0M | 0.1 mi |
| WHOLESALE AUTO PAINTS OF TULSA, LLC Tulsa · 7 employees | $6.7M | 0.2 mi |
| LADYBUG'S FLOWERS & GIFTS INC Tulsa · 2 employees | $1.1M | 1.1 mi |
| O'DELL ENTERPRISES INC. Tulsa · 5 employees | $3.9M | 1.2 mi |
| TRAILS END TRADING COMPANY Tulsa · 3 employees | $3.5M | 1.3 mi |
| ACCURATE FIRE EQUIPMENT COMPANY Tulsa · 21 employees | $24.3M | 2.4 mi |
The full calculation
| Employees reported to the SBA | 31 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $31.6M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $30.4M |
| Estimate: the two combined (geometric mean) | $35.3M |
| EBITDA margin (industry, adjusted for size) | 4% |
| EBITDA = revenue × margin | $1.5M |
Figures are shown toward the upper part of their range rather than at its middle.
Brought up to date assuming revenue has grown 8% a year since 2020, when the PPP figures were reported; included above.
| Estimated value = EBITDA × typical sale multiple | $6.4M |
| Multiple for this size and industry | 4.3× |
| Value range | $3.3M – $8.7M |
| Revenue range | $23.2M – $40.3M |
| EBITDA range | $973K – $1.7M |
| Industry (NAICS) | Other Miscellaneous Nondurable Goods Merchant Wholesalers (424990) |
EBITDA margin: from IRS tax returns of S corporations in this industry (2019–2022), adjusted for company size: smaller companies typically run higher margins. EBITDA here is after owners' salaries.
Benchmarks: US Economic Census 2022. PPP loans were sized on 2019–2020 payroll, so figures reflect that period. These are statistical estimates, not reported financials. Full methodology
People & advisors
Leadership
- CBCrystal BensonSigned for the company · 2025 retirement-plan filing (Form 5500)
Advisors
- BankingRCB BankPPP / SBA lender
From the company's own website and public filings (DOL Form 5500, IRS Form 990, SBA). Roles are as stated there and may be out of date.
Banking relationships
| RCB Bank PPP 2020, PPP 2021 | All 1,690 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/7/2020 | first | $338K | 22 |
| 2/20/2021 | second | $330K | 31 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Master Packaging, Inc.
Master Packaging, Inc. is an other miscellaneous nondurable goods merchant wholesalers company in Tulsa, Oklahoma, in business since 1987. Its estimated annual revenue is about $35.3M, with roughly $1.5M of EBITDA. It has about 28 employees. Its estimated business value is $6.4M (likely range $3.3M–$8.7M).
Common questions
- Who owns Master Packaging, Inc.?
- The owner of Master Packaging, Inc. isn't in public records we've found yet. If you own or run the business, you can add or correct its details on SeeBITDA.
- How much revenue does Master Packaging, Inc. make?
- SeeBITDA estimates Master Packaging, Inc.'s annual revenue at about $35.3M (likely between $23.2M and $40.3M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Master Packaging, Inc. worth?
- About $6.4M, roughly 4.3× its estimated EBITDA of $1.5M, typical for a other miscellaneous nondurable goods merchant wholesalers company its size. Likely range: $3.3M–$8.7M.
- How many employees does Master Packaging, Inc. have?
- About 28, from its 2025 retirement-plan filing.
- When was Master Packaging, Inc. founded?
- Master Packaging, Inc. has been in business since 1987.