The combination of Alpha Packaging and Pretium Packaging will allow the combined entity to offer a wide range of advanced packaging solutions to both firms' existing customer bases and new customers
Pretium Packaging has agreed to acquire Alpha Packaging. (Credit: Adam Radosavljevic from Pixabay)
Clearlake Capital Group portfolio company Pretium Packaging has agreed to acquire US-based Alpha Packaging from Irving Place Capital for an undisclosed sum.
Based in St. Louis, Missouri, Alpha Packaging is engaged in the manufacturing of packers, bottles, and jars using PET and HDPE for health and wellness and personal care markets, as well as a variety of other markets.
Pretium president and CEO Paul Kayser said: “We are thrilled to welcome Alpha and its employees and customers to the Pretium family. Alpha and Pretium are a natural fit given both companies’ complementary product portfolios, process technologies, and footprints.”
Alpha Packaging supplies bottles and jars to the customers in various consumer markets, including nutrition, pharmaceutical, personal care and speciality food and beverage categories.
With around 1,200 employees, the company manages eight facilities in the US and Western Canada, in addition to two facilities in Europe.
The combination of Alpha Packaging and Pretium Packaging will allow the combined entity to offer a wide range of advanced packaging solutions to both firms’ existing customer bases and new customers.
Alpha Packaging CEO Terry Moody said: “It has been a pleasure to work with the team at IPC, who has supported Alpha and our growth strategy.
“We are excited to merge with Pretium and leverage our highly complementary product portfolios and process technologies to better serve our customers, while simultaneously continuing to provide a safe, growth-oriented environment for our associates.”
Evercore and Credit Suisse served as financial advisors to Pretium and Clearlake for the transaction, while William Blair acted as exclusive financial advisor to Alpha Packaging.
In January this year, Pretium Packaging joined a collaborative and solutions-driven initiative called the US Plastics Pact to accelerate its sustainable efforts.