Pritzker Group acquires flexible packaging firm ProAmpac

22 November 2016 (Last Updated November 22nd, 2016 18:30)

US-based Pritzker Group Private Capital has acquired ProAmpac, a global flexible packaging company, from Wellspring Capital Management.

US-based Pritzker Group Private Capital has acquired ProAmpac, a global flexible packaging company, from Wellspring Capital Management.

Financial details of the deal, announced last month, have not been disclosed by either company.

Pritzker Group and other co-investors will serve on ProAmpac's board of directors, and help run the company alongside its management team.

"ProAmpac currently employs more than 2,400 people across 18 manufacturing locations in North America, Europe and Asia."

Operating under Prolamina, Ampac and Tulsack brands, ProAmpac currently employs more than 2,400 people across 18 manufacturing locations in North America, Europe and Asia.

The company provides various flexible packaging solutions for food, medical, security, industrial and specialty retail markets.

Pritzker Group is currently involved in the acquisition of North America-based middle-market companies that serve the manufactured products, services and healthcare sectors.

In July 2015, Pritzker Group purchased US-based sustainable food and beverage packaging producer LBP Manufacturing.

With facilities in the US, Poland, and China, LBP Manufacturing produces new equipment and converting technology to develop customised, sustainable and on-the-go packaging.

The company's portfolio includes the Coffee Clutch hot cup sleeve, the Beverage on the Move insulated beverage to-go carrier, and Thermo Grip double-wall hot cups.