Page 40 - Plastics News August 2021

BUSINESS NEwS

C-P Flexible Packaging Acquires Printed Film P r oAm pac Buy s

Manufacturer Prestige-Pak Packaging Firm Euroflex

S-based flexible packaging company Vince Kuber said: “We are excited to le xible
UC-P Flexible Packaging (C-P) has join C-P and see our two companies Fpackaging
acquired Prestige-Pak, a manufacturer of as highly complementary. “The new, c ompany
printed packaging films, for an undisclosed larger organisation will provide our Pr o A mp a c
sum. Prestige-Pak’s product portfolio customers with a broader portfolio of has expanded
includes printed mono and laminated products and access to C-P’s sustainable i t s pre s e nc e
rollstock designed for various industries technologies.” Middle-market investment in Europe by
such as the bakery, cheese, confectionery, bank TKO Miller served as Prestige-Pak’s acquiring Irish
dry goods, medical, pet food and snack financial adviser for the transaction. protein packaging
food sectors. The acquisition will TKO Miller director Erik Eidem said: supplier
add ten-colour flexographic printing, “Prestige-Pak will provide [C-P] with Euroflex. Euroflex manufactures
laminating, custom slitting and other a centre of excellence. “The company a range of flexible printed film,
prepress services to C-P’s capabilities. has built its outstanding reputation lamination and pouching packaging
C-P will also be able to expand its multi- based on its incredibly talented team of solutions, as well as protein packaging
plant manufacturing base to offer rapid employees, the most modern equipment products, for the coffee, pet food and
response and better printing quality. C-P in the industry and a solution-focused, nutrition supplement markets among
CEO Mike Hoffman said: “Prestige-Pak customer-centric culture.” C-P is a others Neither of the two companies
is an excellent addition to the C-P family. portfolio company of private equity firm has disclosed the financial details of
“We are excited to add Prestige-Pak’s First Atlantic Capital and operates seven the transaction. ProAmpac founder
state of the art, spotless facility to our manufacturing plants across North and CEO Greg Tucker said: “This
portfolio and benefit from their focus America. The company offers a broad family-owned business shares our
on rapid response and problem-solving portfolio of flexible packaging formats, values and continues to deliver strong
capabilities. “Together with Prestige-Pak, including high-definition (HD) printed performance, with a leading position
we are expanding our ability to support rollstock, premade pouches, shrink serving Ireland’s meat, cheese and
our customers with their supply chain sleeves, stretch sleeves and poly bags. dairy markets. “We are delighted to
needs. C-P continues to invest and Last June, C-P acquired North American add Euroflex’s high-quality product
grow rapidly to address ever-changing compostable packaging solution provider offering, innovative research and
market demands.”Prestige-Pak president Genpak Flexible. development (R&D) focused team
and relationships with blue-chip
multinational customers to ProAmpac’s
growing European platform.” Euroflex
CEO Derek Richardson said: “We
are thrilled to join ProAmpac and
partner with Greg [Tucker] and the
entire ProAmpac team. “With this
combination, our expertise in high-
barrier applications will complement
ProAmpac’s broad offering of high-
quality flexible packaging products.
“We are able to take this next step for
our business because of the continued
hard work and dedication of our team,
and we are confident in the growth
opportunities ahead.” ProAmpac aims
to leverage Euroflex’s expertise in
flexible packaging, R&D capabilities.

40 PLASTICS NEWS AUGUST 2021