Pritzker Group Private Capital has announced it has signed a definitive agreement to acquire ProAmpac from Wellspring Capital Management. Pritzker and other co-investors are investing alongside the ProAmpac management team, which will remain a significant shareholder, continue to lead the company and serve on its board of directors. The transaction is expected to close later in November.
ProAmpac operates under the Prolamina, Ampac and Tulsack brands. Headquartered in Cincinnati, Ohio, ProAmpac has more than 2,400 employees across 18 manufacturing locations in North America, Europe and Asia. The company offers a broad range of products and capabilities, including wide web extrusion coating and laminating of film, foil, paperboard and nonwovens; metallizing; pouching; bag converting, and rotogravure and flexographic printing. ProAmpac’s technology-driven, innovative, flexible packaging solutions make it a leader in the food, medical, pet food, security, industrial and specialty retail markets.
“ProAmpac maintains an excellent reputation for innovation and world-class customer service. Its diverse product lines and strong market position make it a strong platform for growth in flexible packaging,” says Michael Nelson, Pritzker Group Private Capital investment partner. “Pritzker Group continues to expand our investments in the packaging sector with this clear market leader.”
Adds Greg Tucker, ProAmpac CEO: “We live our core values of integrity, intensity, innovation and involvement every day – and we are pleased to work with a group that understands this commitment to our customers, suppliers and employees. Pritzker Group’s knowledge of the packaging market and permanent capital base will allow us to continue our strong track record of growth, innovation and successful acquisitions.”