Genpak Flexible offers patented flexible packaging solutions and operates facilities in Aurora, Ontario, Canada and Lakeville, Minnesota, US
Flexible packaging manufacturer C-P Flexible Packaging has closed the acquisition of Genpak Flexible, a North American supplier of compostable packaging, for an undisclosed amount.
Genpak Flexible has been acquired from The Jim Pattison Group. Financial terms of the deal were undisclosed.
Genpak Flexible, which offers patented flexible packaging solutions, has facilities in Aurora, Ontario, Canada and Lakeville, Minnesota, US.
Genpak Flexible to complement C-P Flexible’s converting and printing capabilities
The flexible packaging firm expects the acquisition of Genpak Flexible will complement its converting and printing capabilities.
C-P Flexible Packaging CEO Mike Hoffman said: “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.
“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.”
The deal brings the flexible packaging firm’s North American operations to six locations with more than 750 employees.
C-P Flexible Packaging is a portfolio company of US-based private equity firm First Atlantic Capital.
First Atlantic Capital chairman Roberto Buaron said: “This acquisition unlocks additional value by substantially expanding the range of products and capabilities we bring to the marketplace.”
First Atlantic Capital managing director Emilio Pedroni said that its aims to create a major player in the flexible packaging industry with diverse manufacturing capabilities with a focus on technologies to address speed to market and sustainability.
“With this transformational acquisition, we are well on our way to achieving our goal,” Pedroni added.
In May this year, C-P Flexible Packaging has introduced new C-P GreenStream line of flexible packaging solutions that use post-consumer recycled content, recyclable materials, compostable materials, down-gauged materials, and materials derived from renewable resources.