Packaging company ProAmpac receives investment
ProAmpac, a leader in flexible packaging and material science, today announced the completion of a new investment from Pritzker Private Capital, a leader in family direct investing, strengthening their successful multi-year partnership.
PPC acquired ProAmpac alongside management in 2016. GIC, Singapore’s sovereign wealth fund, as well as existing and new co-investors invested alongside PPC and ProAmpac management to support ProAmpac’s next phase of growth. Terms were not disclosed.
Following its recent acquisitions of Rosenbloom Groupe and Rapid Action Packaging, Cincinnati-based ProAmpac now has 37 sites globally, with nearly 4,800 employees supplying more than 5,000 customers in 90 countries. ProAmpac innovates, engineers and manufactures flexible and sustainable packaging and material science solutions for various consumer, healthcare, e-commerce, retail and industrial goods markets. ProAmpac’s management team, led by Founder and CEO Greg Tucker, will continue to lead the business.
“Both ProAmpac and PPC are employee-centric organizations and we remain aligned in our values-based culture and leadership strategy. We are pleased to strengthen and continue our successful partnership with PPC,” said Mr. Tucker. “This investment will help ProAmpac continue our growth, including future acquisitions and expansion into new geographies. With the continued support of our strategic partners, we will enhance our best-in-class product offering and commitment to serve our customers with sustainable solutions for their custom packaging needs.”
Tony Pritzker, Chairman and CEO at Pritzker Private Capital, said, “ProAmpac continues to be a market leader in manufacturing high-quality sustainable, flexible packaging for its customers around the world. We are thrilled to continue our partnership with Greg and the ProAmpac team. We look forward to working together with new partner GIC to identify and pursue future strategic growth opportunities for this great company.”
Arjun Khullar, Head of Integrated Strategies Group at GIC, said, “ProAmpac is among the largest players in flexible packaging, a growth area within the broader packaging market. The company has a proven track record in meeting its diversified customers’ needs for more tailored packaging, as well as a clear commitment to sustainability. We are pleased to join Pritzker Private Capital, co-investors and ProAmpac’s management team to support the company through its next phase of its growth.”
Goldman Sachs & Co. LLC advised ProAmpac on the transaction.
