Page 46 - Platics News June 2022

Coral Products Acquires ermoforming Major Alma Proampac Acquires Spe-
cialty Packaging

P ackaging and material science
company ProAmpac has ac-
quired packaging manufacturer Spe-
cialty Packaging for an undisclosed
sum. Based in Fort Worth, Texas,
Specialty Packaging produces paper,
lm, foil bags, sandwich wraps, bas-
ket liners and other custom products
for the fast food and foodservice
industries. e company owns an
advanced 100,000ft² facility where
it produces custom and stock prod-
lastic product designer and manu- range of sectors, including food packag- ucts. e acquisition is intended to
Pfacturer Coral Products has acquired ing and personal care as examples.“ is allow ProAmpac to add to its cus-
Alma Products, a company that special- acquisition broadens our Group’s prod- tomised, recyclable food packaging
ises in extrusion, thermoforming and uct and manufacturing o ering and solutions and expand its footprint
container printing.As part of the deal, greatly expands our available market op- into the US’ south-western region.
Coral Products acquired all of Alma’s is- portunities. We expect this acquisition It will also help increase the com-
sued share capital for a net consideration will be earnings enhancing in its rst pany’s manufacturing capabilities
of £1.5m ($1.8m), which will be paid in year.” e acquisition of Alma is being and paper bag converting capacity.
cash.Based in Runcorn, England, Alma funded from Coral Products’ existing ProAmpac founder and CEO Greg
is owned and controlled by Hildegard resources. For the 12 months to 31 De- Tucker said: “Specialty Packaging
Bobb-Kessler. Following the acquisi- cember 2021, Alma expects to register has a very complementary o ering
tion, Coral Products will retain Alma’s £12.3m in sales and a pro t before tax of high-quality products and a prov-
existing team. Coral Products executive of £146,000. e company also antici- en commitment to customer service.
chairman Joe Grimmond said: “ is ac- pates an adjusted net asset value of £2m. “I am eager to welcome the Special-
quisition further reinforces our focus on Coral Products develops and supplies ty Packaging team to the ProAmpac
niche, specialist operators in the plastics plastic products for a range of sectors, family. “We are excited to expand
sector.“Alma operating from its freehold including food packaging, personal care, our customer relationships and en-
Runcorn premise is very well invested in household, healthcare, automotive, tel- hance our manufacturing presence
state-of-the-art sheet extrusion, volume ecoms and rail. e company has man- as we work together to strengthen
vacuum forming and one of the most ufacturing facilities in Wythenshawe our position as an industry leader
advanced computer-controlled print- and a distribution facility in Hyde, in specialty, sustainable packaging.”
ing facilities in the industry. “Alma with Greater Manchester Earlier this month, ProAmpac engineers and manufac-
its BRC grade and ISO 9000 quality Coral Products acquired Haydock- tures exible and sustainable pack-
certi cations can operate across a wide based business Film & Foil Solutions. aging and material science solutions.

46 PLASTICS NEWS June 2022