US-based Fisher Container, a portfolio company majority owned by private equity company Morgan Stanley Capital Partners (MSCP), has completed the acquisition of Packaging Products Corporation (PPC).
The acquisition represents Fisher’s first add-on acquisition since the investment by MSCP in the company in February.
Fisher focuses on manufacturing technical flexible packaging products such as flexible films, bags and plastic pouches for multiple markets such as healthcare, food and industrial end markets.
Fisher CEO Kevin Keneally said: “I am very excited to bring together Fisher and PPC, two highly complementary businesses with rich legacies.
“We expect the combination of these companies will enable us to enhance the value and service we provide to our customers.”
PPC is engaged in flexographic printing and converting of flexible films, bags and pouches that are used for food packaging.
It has manufacturing facilities in Mission, Kansas and in Rome, Georgia.
Morgan Stanley Capital Partners managing director Eric Kanter said: “PPC enhances Fisher’s position in the food market with its unique set of capabilities that has translated into a favourable position with blue chip and innovative food manufacturers.”
Under the terms of the agreement, Kevin Keneally will serve as the CEO of the combined company.
Image: Morgan Stanley Headquarters. Photo: courtesy of Morgan Stanley.