The acquisition is part of ProAmpac’s plan to expand its manufacturing capabilities to produce primary packaging for ready-to-eat and fresh prepared foods
Flexible packaging firm ProAmpac has closed the acquisition of Rapid Action Packaging (RAP), a UK-based manufacturer of cellulose-based packaging products for fresh prepared and ready-to-eat foods.
RAP is engaged in designing and manufacturing sustainable packaging for fresh prepared foods sold at retail, including sandwiches, wraps, chicken tenders and salads.
The acquisition is part of ProAmpac’s plan to expand its manufacturing capabilities to produce primary packaging for ready-to-eat and fresh prepared foods while broadening its sustainable product offering for retail food markets.
Financial terms of the transaction were undisclosed.
ProAmpac CEO Greg Tucker said that ProAmpac adds RAP’s focus on research and development for fresh prepared food packaging to its portfolio.
Tucker added: “Together with RAP, we are extending our product reach in food service to now include a ready-to-eat portfolio, and we will continue to bring innovative ideas and products to a growing customer base.”
As part of the deal, European, sustainability focused investment firm Ludgate exits from one of its portfolio companies, RAP to ProAmpac.
RAP CEO Graham Williams said: “Our two companies are highly complementary, with a collaborative working relationship and a common strength in our research and innovation practices.
“I would like to thank Ludgate for their financial support and strategic guidance positioning RAP for an exciting future with ProAmpac.”
Ludgate Investments CEO Gijs Voskamp said: “This investment substantially reduces the plastics footprint in the food packaging market and this transaction reiterates the attractiveness of the sustainability proposition.”
Additionally, the acquisition brings ProAmpac’s globally sites to 37 with nearly 4,800 employees supplying more than 5,000 customers in 90 countries.
ProAmpac is engaged in producing flexible packaging for various consumer, healthcare, e-commerce, retail and industrial goods markets.
Upon joining the ProAmpac brand, RAP will maintain operations at its manufacturing facilities in Ireland and London.
Recently, ProAmpac announced the development of a high-barrier recyclable packaging for Ocean Spray’s Craveology Tuscan Herb snack mix.