US-based flexible packaging firm ProAmpac has acquired two Irish packaging businesses, Irish Flexible Packaging and Fispak, from IFP Investments.
The acquisition is part of ProAmpac’s strategy to expand its sustainability-focused flexible packaging capabilities in Europe and the UK.
The financial terms of the transaction have not been disclosed.
ProAmpac founder and CEO Greg Tucker said: “We are pleased to continue ProAmpac’s expansion in Europe with the addition of Irish Flexible Packaging and Fispak.
“These high-performing businesses strengthen our sustainable packaging capabilities and enhance our ability to serve the leading dairy, bakery, meat and foodservice companies across Europe and beyond.
“I welcome these talented teams to the ProAmpac family.”
Irish Flexible Packaging supplies paper-based structures for customers in Ireland’s bakery and dairy sectors.
Fispak serves the meat, cheese and fish industries and supplies food contact packaging materials, including casing, boneguard and linerboard products.
Both businesses are expected to add sustainable and flexible packaging manufacturing and distribution capabilities to ProAmpac’s portfolio.
Following the acquisition, ProAmpac will assume both companies’ current management teams without changing their roles.
IFP Investments chairman Barry O’Brien said: “Our expertise in recyclable food packaging is an exciting complement to ProAmpac’s offering of innovative flexible packaging solutions.
“We are thrilled to partner with Greg Tucker and the ProAmpac team as together we serve an expanded, global customer base with world-class sustainable packaging products.”
ProAmpac develops solutions for consumer, healthcare, e-commerce, retail and industrial goods markets worldwide.
The company currently operates a network of 50 sites worldwide, serving more than 5,000 customers in 90 countries.
It is owned by Pritzker Private Capital, along with management and other co-investors.
In July, ProAmpac acquired Irish protein packaging supplier Euroflex for an undisclosed sum.
The company also acquired UK-based companies Rapid Action Packaging, IG Industries, Brayford Plastics and Ultimate Packaging this year.