In a move solidifying its position within the North American protective packaging industry, Specialized Packaging Group (SPG) has announced the acquisition of Illinois-based Clark Foam Corporation.

Clark Foam, a provider of custom-designed packaging solutions, boasts more than 70 years of experience catering to diverse sectors such as healthcare, consumer products, energy, and technology.

This strategic acquisition expands SPG's capabilities and geographic reach. 

The addition of Clark Foam's expertise in engineered packaging solutions allows SPG to offer a wider range of products to its customers. 

Furthermore, the acquisition strengthens SPG's presence in the Midwest US, particularly in the key markets of Chicago and Louisville.

"The addition of Clark Foam to our rapidly expanding team means we will be adding industry-leading custom-engineered packaging capabilities to an operation that is already world-class," said SPG CEO Paul Budsworth.

"We look forward to bringing the Clark Foam team fully onboard and integrating them into a footprint across North America while providing high-quality packaging solutions to a diverse customer base."

The acquisition brings approximately 50 Clark Foam employees into the fold, bolstering SPG's current workforce of 1,700. 

To ensure a smooth integration process, Clark Foam's existing operations in Bolingbrook, Illinois, and Louisville, Kentucky, will continue operations. 

Jim Clark, president and owner of Clark Foam, will transition to an advisory role for a short period to help facilitate a seamless handover.

"With SPG, we have found a partner that shares our vision and has the resources to accelerate our growth plans in new and existing markets," said Clark.

This acquisition marks SPG's eighth since Altamont Capital Partners' investment in the company in 2020. 

Morrison & Foerster provided legal counsel to SPG throughout the transaction.