ProAmpac Completes Acquisition of PolyFirst Packaging
CINCINNATI, Ohio (September 5, 2017) - ProAmpac, one of the nation's largest flexible packaging manufacturers, today announced that is has acquired Wisconsin-based PolyFirst Packaging. Specializing in printed/customized roll stock and various types of plastic pouches and bags, PolyFirst provides new capabilities in cold seal and e-commerce products to complement ProAmpac's existing flexible packaging product offerings. Financial terms of the deal were not disclosed.
"The acquisition of PolyFirst provides us with cold seal capabilities and several new bag and pouch formats. Combined with our manufacturing expertise and award-winning printing assets, our customers will benefit from a more comprehensive service and product offering," said ProAmpac CEO Greg Tucker.
Cincinnati-based ProAmpac, one of the top 10 flexible packaging converters in the United States, is owned by Pritzker Group Private Capital along with management and co-investors. With the addition of PolyFirst Packaging, ProAmpac now has 25 manufacturing sites globally with 3,200 employees supplying more than 5,000 customers in 90 countries. ProAmpac primarily manufactures products servicing the food, pet care, healthcare, lawn care, and retail markets as well as providing secure packaging for the transport of cash and valuables.
Initially called Advanced Bag, PolyFirst Packaging was founded in 1999 in Jackson, Wisconsin. The business will become part of the ProAmpac brand and operate as a part of the US Flexibles Division. Steve Randazzo, former chief executive officer of PolyFirst Packaging, will lead operations at both PolyFirst facilities in Hartford, WI and Aurora, IL.
Michael Nelson, Pritzker Group Private Capital investment partner, said, "PolyFirst is a strategic acquisition that expands ProAmpac's already robust product offering. We will continue to support ProAmpac with acquisitions that add value for their customers and support their growth initiatives in strategic markets."
ProAmpac is a leading global flexible packaging company with enhanced product offerings unparalleled in the industry. We provide creative packaging solutions, industry-leading customer service and award-winning innovation to a diverse global marketplace. We are guided in our work by four core values that are the basis for our success: Integrity, Intensity, Innovation and Involvement. For more information, visit proampac.com.
ProAmpac is part of the Pritzker Group Private Capital portfolio of companies.
About Pritzker Group
Pritzker Group, led by Tony and J.B. Pritzker, has three principal investment teams: Private Capital, which acquires and operates leading North America-based companies; Venture Capital, which provides early-stage and growth venture funding to technology companies throughout the United States; and Asset Management, which partners with top-performing investment managers across global public markets.
Pritzker Group Private Capital acquires North America-based middle-market companies with leading positions in the manufactured products, services and healthcare sectors. The firm's permanent, proprietary capital base allows for efficient decision making, broad flexibility with transaction structure and investment horizon, and alignment with management teams focused on creating long-term value. Pritzker Group brings significant resources, expertise and credibility in building businesses and is an ideal partner for entrepreneur- and family-owned companies. For more information, visit pritzkergroup.com.