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.
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.