Page 33 - Plastics News July 2021

BUSINESS NEWS

ProAmpac acquires flexible 5DGLFL*URXS UHJLVWHUV D QHW
packaging co. Ultimate Packaging income EUR 87 million for 2020

6 EDVHG ÁH[LEOH SDFNDJLQJ adiciGroup – an Italian multinational founded and
8company ProAmpac has Rheadquartered in Bergamo and leading producer
acquired British flexible RI FKHPLFDOV HQJLQHHULQJ SRO\PHUV V\QWKHWLF ÀEUHV
packaging manufacturer DQG QRQZRYHQV FORVHG LWV ÀQDQFLDO \HDU ZLWK
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acquisition is intended to FXUELQJ WKH GHFUHDVH FRPSDUHG WR WR 2Q
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food packaging capability and FRPSDUHG WR WKH SULRU \HDU DQG QHW LQFRPH QHW
expand its sustainable solutions RI DPRUWL]DWLRQ DQG GHSUHFLDWLRQ URVH WR (85 PLOOLRQ
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operates two divisions, namely \HDU LQ PDQ\ UHVSHFWV µ $QJHOR 5DGLFL SUHVLGHQW RI
8OWLPDWH 3DFNDJLQJ DQG 8OWLPDWH 'LJLWDO 7KHVH SURYLGH RadiciGroup, stated. “Nevertheless, we managed to
printing techniques and sustainable packaging solutions limit the negative effect of the pandemic and obtain
designed to extend products’ shelf lives and enhance VDWLVIDFWRU\ UHVXOWV ZKLFK FRQÀUP RXU FRPSHWLWLYHQHVV
FRQYHQLHQFH DQG UHF\FODELOLW\ 7KH ÀQDQFLDO GHWDLOV RI in the market. The new year began with a challenge: to
the transaction have not been disclosed. ProAmpac fully seize the opportunities presented by the recovery
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innovative team and high-quality flexible packaging inevitably impacted by the pandemic and the restrictive
portfolio are exciting complements to ProAmpac’s measures adopted to contain its spread, the Group
JURZLQJ IDPLO\ ´$V ZH H[SDQG RXU UHDFK DFURVV WKH 8. continued its strategy of focusing on its strategic and
this combination will help us better serve our customers synergistic core businesses, such as chemicals for nylon
with an enhanced offering of recyclable and compostable production, engineering polymers and advanced textile
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we are confident that, by leveraging the Group’s
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said: “As a family-owned business, it was important for us
to select a partner who shared our values, commitment
to innovation and philosophy of partnership with our
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[Tucker] and the ProAmpac team to extend our collective
market leadership and provide tremendous value to
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and I, who will remain with the company, are looking
forward to working with the ProAmpac team to further VSHDNLQJ *URXS SHUIRUPDQFH LQ UHÁHFWHG WKH
enhance our customer offering and opportunities for trend of the pandemic: a drastic drop in demand
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by Pritzker Private Capital (PPC) alongside management imposed, followed by a good recovery from September
to November, which was, however, somewhat slowed
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manufacturer Rapid Action Packaging (RAP) in January down in December by an upsurge in the contagion rate.
and received investment from PPC later that month. 7KH \HDU JRW RII WR D SRVLWLYH VWDUW LQ WKH ÀUVW
ProAmpac has more than 5,800 employees across almost quarter, sales revenue and gross operating margin went
50 manufacturing sites worldwide. up in almost all business sectors.

33 July 2021 Plastics News