ProAmpac secures new investment from PPC for next phase of growth

20 January 2021 (Last Updated January 20th, 2021 14:40)

Flexible packaging company ProAmpac has secured new investment from Pritzker Private Capital (PPC) to support its next growth phase.

Flexible packaging company ProAmpac has secured new investment from Pritzker Private Capital (PPC) to support its next growth phase.

With fresh financing, PPC is continuing to strengthen its multi-year partnership. It acquired ProAmpac alongside management in 2016.

The companies did not disclose the financial terms of the investment.

ProAmpac founder and CEO Greg Tucker said: “Both ProAmpac and PPC are employee-centric organisations and we remain aligned in our values-based culture and leadership strategy. We are pleased to strengthen and continue our successful partnership with PPC.

“This investment will help ProAmpac continue our growth, including future acquisitions and expansion into new geographies.

“With the continued support of our strategic partners, we will enhance our best-in-class product offering and commitment to serve our customers with sustainable solutions for their custom packaging needs.”

Besides PPC and ProAmpac management, Singapore’s sovereign wealth fund GIC, the company’s existing and new co-investors also joined in the investment round.

Based in Cincinnati, ProAmpac currently operates 37 sites globally, with nearly 4,800 employees supplying more than 5,000 customers in 90 countries.

Pritzker Private Capital chairman and CEO Tony Pritzker said: “We are thrilled to continue our partnership with Greg and the ProAmpac team. We look forward to working together with new partner GIC to identify and pursue future strategic growth opportunities for this great company.”

Last week, ProAmpac strengthened its operations with the acquisition of UK-based manufacturer Rapid Action Packaging (RAP).