USA – C-P Flexible Packaging, one of the leading manufacturer of flexible packaging in the USA, has acquired Genpak Flexible, a North American supplier of compostable packaging and flexible packaging solutions, in a transaction whose financial details were not disclosed.
C-P Flexible Packaging, a longstanding portfolio company of First Atlantic Capital, a New York based private equity firm purchased Genpak Flexible from The Jim Pattison Group.
With facilities in Aurora, Ontario and Lakeville, Minnesota, Genpak Flexible holds industry-leading expertise in customized die-cut rollstock and pouches, as well as paper-based laminations.
C-P Flexible Packaging said that the strategic investment will complement its best-in-class converting and printing capabilities. C-P Flexible Packaging’s North American footprint now consists of six locations with over 750 employees.
“With the unique capabilities and sustainable packaging portfolio of Genpak Flexible, this strategic acquisition provides our customers with a wider array of innovative flexible packaging options than ever before,” C-P Flexible Packaging CEO Mike Hoffman, said.
“Our two companies’ cultures are similar, with a laser-like focus on customers and continuous innovation. We’ve been highly impressed by the talent and resources within Genpak Flexible, and we are excited to move forward in creating more value for our customers.”
David Cobb, Managing Director of The Jim Pattison Group commnted: “We are very proud of our team at Genpak Flexible and the company that they have built.
“We believe both the employees and customers are in excellent hands with C-P Flexible Packaging and that the combined resources of the two companies will only strengthen the opportunities for both employees and customers.”
Roberto Buaron, Chairman of First Atlantic Capital added that the acquisition will support the expansion of C-P Flexible Packaging as it evolves into a leader in the high-growth flexible packaging sector.
“This acquisition unlocks additional value by substantially expanding the range of products and capabilities we bring to the marketplace,” he said. C-P Flexible Packaging already supplies rollstock, premade pouches, resealable packaging and shrink sleeves.
First Atlantic Capital Managing Director, Emilio S. Pedroni, noted that the company has a vision was to create a major player in the flexible packaging industry with diverse manufacturing capabilities, especially technologies to address speed to market and sustainability.
“With this transformational acquisition, we are well on our way to achieving our goal,” Emilio remarked. Founded in 1959 and headquartered in York, Pennsylvania, C-P Flexible Packaging is one of the top 20 flexible packaging suppliers in the U.S.
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