The owner of Prolamina Corporation, Wellspring Capital Management LLC (a leading private equity firm) has recently completed its acquisition and merger of Ampac Holdings LLC with Prolamina.
Prolamina is the global leader in the development of high-performance polymers and films, with its main customer base being specialty packaging for the food and beverage industry. The acquisition will allow the business to continue its investment in the polymer science platform and expand its global presence. The business’s product portfolio will also be enhanced by the addition of Ampac Holdings LLC, which is a leading provider of flexible packaging solutions.
According to Matthew Harrison, a principal of Wellspring, this acquisition and merger of Ampac with Prolamina show the attractiveness of the flexible packaging industry across the globe. Wellspring strongly believes that there is increased scope of growth in this industry due to growing demands for the same from customers.
The new company will have its headquarters in Cincinnati, Ohio. The company’s three manufacturing locations will merge with Ampac’s thirteen production plants. The merger will create a combined workforce of over 2,000 employees.
A Flexible Packaging Leader is Born
Greg Tucker, CEO of Prolamina, will be heading the merged company as CEO. In a press release, Tucker said that he is honoured to lead a company with more than 2,000 committed team members and 16 facilities across the globe equipped with extraordinary manufacturing capacity to meet the growing needs of its customers.
A communications advisor at Kekst and Co. called Mark Semer, said that the company is building its combined branding strategy and is expected to announce a new name as part of its effort sometime soon.
The company not only has a huge global footprint and expansive capabilities, but it also has a diverse range of markets that it operates in. The extensive list of markets includes the food service industry, dry and liquid foods (coffee, dairy, frozen items, pet, and produce), pharmaceutical, beverage, medical, chemical, industrial, security, hardware, and retail.
When it comes to flexible packaging, both Prolamina and Ampac have a history of acquisitions. In August 2010, Harold Bevis created Packaging Solutions Holdings with the acquisition of Jen-Coat a flexible packaging manufacturer. This deal was followed by the company’s acquisition of a similar manufacturer Excel Pac in March 2011. Once these deals were completed and in the same year, the name of the company was changed to Prolamina.
Thus, this new acquisition and merger will create a global flexible packaging competitor that boasts of the best product portfolio and an extensive geographical range in the industry.
Who Are Prolamina and Ampac?
Ampac Packaging was founded in 1966 and acquired by H.I.G. Capital LLC in 2014. The company has made various acquisitions over the years including Interstate Packaging Corp in 2000, Tulsack Inc in 2002, Kapak Co in 2005, Flexicon in 2005, Mohawk Northern Plastics Inc in 2007, and ELAG Verapackungen AG in 2011, plus others.
Prolamina is a diversified, global packaging company with more than 60 years of experience in providing high-quality packaging solutions for a wide range of industries. Prolamina operates fourteen manufacturing facilities and has warehouse facilities in North America, Europe, and Asia, and employs more than 2,500 people worldwide. The company’s products include flexible packaging, laminates, and specialty papers for food, beverage, pharmaceutical, and industrial applications. The company’s products are used by some of the biggest food and beverage brands in the world. Their industrial packaging solutions are used in the automotive, electronics, and healthcare industries.
Prolamina operates sustainable business practices and is a member of the Sustainable Packaging Coalition. The company was named one of the World’s most ethical companies in a recent poll by the Ethisphere Institute.
What is Flexible Packaging?
The term flexible packaging is used to describe packaging products that are made of flexible or semi-rigid materials. The packaging category can be divided into two main categories, film-based and paper-based.
Film-based packaging includes items such as pouches, bags, and wrappers made from thin sheets of plastic film. Paper-based packaging items such as paper boxes, cartons, laminated bags, and sacks. Items classed as flexible packaging are generally lighter than those considered to be rigid, which makes them the ideal packaging choice for many types of products. Flexible Packaging can be easily customized too which makes it ideal for companies who offer a personalized design service to their clients.
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