Acquisition expands capabilities in packaging for snack foods, confectionary, and baked goods
YORK, Pa., August 03, 2021--(BUSINESS WIRE)--C-P Flexible Packaging (C-P), a leader in the flexible packaging industry, today announced the acquisition of Prestige-Pak, Inc., a privately held manufacturer in Wisconsin focusing on printed packaging films for the retail food markets. C-P Flexible Packaging is a longstanding portfolio company of First Atlantic Capital, a New York based private equity firm. Terms of the transaction were not disclosed.
With this latest acquisition, C-P Flexibles expands its multi-plant manufacturing base to provide rapid response and best-in-class printing quality. Prestige-Pak is a second generation, family-owned converter with a 53 year history of success. The company brings diverse capabilities including ten-color flexographic printing, laminating, custom slitting and a variety of prepress services. Prestige-Pak’s long standing customer relationships were built on innovation, quality, and trust and provide a strong foundation for growth.
"Prestige-Pak is an excellent addition to the C-P family," said Mike Hoffman, CEO of C-P. "We are excited to add Prestige-Pak’s state of the art, spotless facility to our portfolio and benefit from their focus on rapid response and problem-solving capabilities. Together with Prestige-Pak, we are expanding our ability to support our customers with their supply chain needs. C-P continues to invest and grow rapidly to address ever-changing market demands."
Vince Kuber, President of Prestige-Pak, Inc., said, "We are excited to join C-P and see our two companies as highly complementary. The new, larger organization will provide our customers with a broader portfolio of products and access to C-P’s sustainable technologies."
According to First Atlantic Capital Managing Director, Emilio Pedroni, "We are committed to supporting the growth efforts of C-P. This acquisition further allows us to expand our footprint in North America and continue our strategy to build a leading flexible packaging company with a laser focus on innovation and customer service".
"The Prestige-Pak acquisition will add to our already extensive footprint in the flexible packaging industry", stated Roberto Buaron, Chairman of First Atlantic Capital. "Our C-P leadership team will help accelerate Prestige-Pak’s proven track record of developing products to better serve customer needs while providing enhanced capabilities."
To learn more about C-P Flexible Packaging’s expanded portfolio of flexible packaging products and capabilities, visit cpflexpack.com.
About C-P Flexible Packaging
Founded in 1958, C-P Flexible Packaging is one of the top custom flexible packaging suppliers in the U.S. and supports the growth efforts of some of the world’s leading consumer packaged goods companies. Headquartered in York, PA., C-P operates seven manufacturing plants across North America and employs over 750 people. The company brings together a full portfolio of flexible packaging formats spanning HD printed rollstock, premade pouches, shrink sleeves, stretch sleeves, poly bags, roll-fed labels, reclose, cold-seal flow wrap, compostable and recyclable flexible packaging. For more information on C-P Flexible Packaging, visit www.cpflexpack.com.
About First Atlantic Capital
Founded in 1989, First Atlantic Capital is a middle market private equity firm that leverages its extensive consulting and operational experience to acquire middle market companies, seeking to build them up to become market leaders. Since its inception, the firm has completed 87 acquisitions, assembling 22 successful platforms in various industries including plastics and packaging, food and beverage, consumer and industrial products and business services. Notable investments in the packaging industry include Berry Plastics, Ranpak, Captive Plastics, Resource Label Group and C-P Flexible Packaging. For additional information, visit www.firstatlanticcapital.com.
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