US-based flexible packaging company C-P Flexible Packaging (C-P) has acquired Prestige-Pak, a manufacturer of printed packaging films, for an undisclosed sum.
Prestige-Pak’s product portfolio includes printed mono and laminated rollstock designed for various industries such as the bakery, cheese, confectionery, dry goods, medical, pet food and snack food sectors.
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The acquisition will add ten-colour flexographic printing, laminating, custom slitting and other prepress services to C-P’s capabilities.
C-P will also be able to expand its multi-plant manufacturing base to offer rapid response and better printing quality.
C-P CEO Mike Hoffman said: “Prestige-Pak is an excellent addition to the C-P family.
“We are excited to add Prestige-Pak’s state of the art, spotless facility to our portfolio and benefit from their focus on rapid response and problem-solving capabilities.
“Together with Prestige-Pak, we are expanding our ability to support our customers with their supply chain needs. C-P continues to invest and grow rapidly to address ever-changing market demands.”
Prestige-Pak president Vince Kuber said: “We are excited to join C-P and see our two companies as highly complementary.
“The new, larger organisation will provide our customers with a broader portfolio of products and access to C-P’s sustainable technologies.”
Middle-market investment bank TKO Miller served as Prestige-Pak’s financial adviser for the transaction.
TKO Miller director Erik Eidem said: “Prestige-Pak will provide [C-P] with a centre of excellence.
“The company has built its outstanding reputation based on its incredibly talented team of employees, the most modern equipment in the industry and a solution-focused, customer-centric culture.”
C-P is a portfolio company of private equity firm First Atlantic Capital and operates seven manufacturing plants across North America.
The company offers a broad portfolio of flexible packaging formats, including high-definition (HD) printed rollstock, premade pouches, shrink sleeves, stretch sleeves and poly bags.
Last June, C-P acquired North American compostable packaging solution provider Genpak Flexible.
