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November 30, 2021updated 24 Dec 2021 5:55am

Wildpack reports revenues of $7.07 for third quarter of FY21

The company plans to begin pilot production on a new label printing line at its Las Vegas facility in the fourth quarter.

Canadian beverage manufacturing and packaging firm Wildpack Beverage has reported revenues of $7.07m for the third quarter (Q3) of 2021 (FY21), which ended on 30 September.

The company’s gross margin increased by 56% to 19.7% compared with the second quarter (Q2) of the year.

Its adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) grew by 137% to $436k in Q3 from the previous quarter.

Wildpack also increased its annual run rate decorating capacity by 48 million cans in Q3, but posted a net loss of $1.49m on its total can volume of 24.9 million.

The company completed its acquisitions of Craftpac and Vertical Distilling during the quarter.

Earlier this month, Wildpack agreed to acquire KT Murray, which trades as Land and Sea Packaging, for $37.26m.

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Wildpack chief governance officer Thomas Walker said: “We are very pleased with our acquisitions this quarter. Both companies bring a history of successful operations and positive cash flows.

“Their integrations are going smoothly and we are excited to continue to expand our geographic reach. We are already seeing interest from our existing customers looking to make use of our expanded footprint.”

Wildpack chief operations officer Chuck Zadlo said: “The past quarter represented my first full quarter with Wildpack and I am proud of the work the operations team has done in executing on our excellence based strategy to integrate our new acquisitions as well as improve safety, quality and productivity in our facilities.

“A key component in driving our strategy this past quarter began with the expansion of the operations leadership team and the value they have brought from day one has exceeded expectations.”

Wildpack offers sustainable aluminium can filling and eco-friendly decorating services to middle-market brands across the US.

In the fourth quarter (Q4) of the year, the company plans to begin pilot production at a label printing line currently being installed at its Las Vegas facility.

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