Centre Lane Partners, a private investment firm based in New York
City, New York, announced today that it has acquired Oracle Flexible Packaging,
Inc., which will be combined with Centre Lane’s existing portfolio company,
LLFlex, LLC.
Oracle Packaging is a
diversified flexible packaging company serving the healthcare, food &
beverage and consumer products markets. Headquartered in Winston-Salem, North
Carolina, the company operates two manufacturing facilities with an employee
team numbering 280.
Earlier this year, Centre
Lane acquired LLFlex, a manufacturer of high-performance, metals-based
laminates for packaging and industrial markets including tobacco packaging,
wire & cable armament and building & construction facings. The company,
based in Louisville, Kentucky, employs a team of 140 and serves customers in
North America, Central America, South America and Western Europe.
“Both LLFlex and Oracle
have earned well-established reputations for providing innovative, high-quality
products with outstanding service to customers within their respective
markets,” comments Nathan Richey, managing director at Centre Lane. Richey
continues, “We are excited to bring these businesses together to create a true
market-leader in the development, production and supply of high-performance
packaging and converted products.”
“The addition of Oracle
scores a significant win for existing customers served by both companies,
providing new capabilities and an expanded array of product solutions with
which to serve them,” comments Andy Starr, vice president & general manager
at LLFlex. Starr adds, “Oracle’s addition significantly expands our existing
flexible packaging portfolio into several new and growing end-use segments,
broadens our manufacturing capabilities and significantly enhances our new-
product development capabilities.”
“This acquisition
represents a significant step forward for our customers, employees and vendor
partners,” says Chris Payne, vice president of sales & marketing with
Oracle. “Centre Lane’s strong financial backing will enable us to effectively
manage the significant core-market growth we have been experiencing and further
our development efforts for exciting new product platforms within those
markets. Oracle has been providing innovative packaging solutions and services
to our customers for over eight decades. Now, with the opportunity to leverage
our collective knowledge and capabilities within a larger packaging
organization, our ability to do so is significantly enhanced”
Centre Lane Partners
(646) 842-0710
www.centrelanepartners.com
Oracle Flexible Packaging,
Inc.
(336) 777-5000
www.oraclepackaging.com
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