The terms of the deal were not made public. Credit: Graphixminds.com via Shutterstock.

ProAmpac, a flexible packaging company, has signed a definitive agreement to acquire Gelpac, a producer of polywoven packaging products and multiwall paper.  

The deal is set to increase ProAmpac’s capacity and expand its product offering across the US and Canada. 

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Founded in 1956, Gelpac offers a broad range of multiwall paper bag and polyethylene packaging solutions. It operates six facilities in the US and Canada. 

Following the transaction, Gelpac will retain its operational presence and head office in Quebec. 

The integration of Gelpac’s production capabilities into ProAmpac’s operations is anticipated to better serve the agricultural, food and beverage, industrial and pharmaceutical sectors in the region.

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The deal is pending customary approvals and closing conditions and is expected to close in the coming weeks.  

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ProAmpac will acquire Gelpac from an investor group led by Namakor, and including Groupe W Investments and CDPQ. 

The financial terms of the transaction have not been disclosed.  

Kirkland & Ellis and McMillan are representing ProAmpac while Gelpac is being represented by Fasken Martineau DuMoulin and Bradley for the transaction.  

ProAmpac founder, vice-chair and CEO Greg Tucker said: “Gelpac shares ProAmpac’s commitment to serve customers across the US and Canada with high-performance, sustainability-focused flexible packaging solutions.  

“Gelpac’s talented management team has a 20-year track record of working together to build this strong business, and I am delighted to welcome them to the ProAmpac family.” 

ProAmpac, jointly owned by Pritzker Private Capital, management and other coinvestors, operates 46 sites globally, employing nearly 6,000 people. 

Last month, ProAmpac launched a new high-barrier, fibre-based solution in Europe.