In this paper, we analyze binary-tree algorithms in a setup in which the receiver can perform multi-packet reception (MPR) of up to and including K packets simultaneously. The analysis addresses both traffic-independent performance as well as performance under Poisson arrivals. For the former case, we show that the throughput, when normalized with respect to the assumed linear increase in resources required to achieve K-MPR capability, tends to the same value that holds for the singlereception setup. However, when coupled with Poisson arrivals in the windowed access scheme, the normalized throughput increases with K, and we present evidence that it asymptotically tends to 1. We also provide performance results for the modified tree algorithm with K-MPR in the clipped access scheme. To the best of our knowledge, this is the first paper that provides an analytical treatment and a number of fundamental insights in the performance of tree-algorithms with MPR.