Flexible packaging company ProAmpac has acquired Rapid Action Packaging (RAP), a manufacturer of cellulose-based food packaging products.
Gijs Voskamp, CEO of Ludgate Investments, which has exited its investment in RAP, said that Ludgate was “delighted to have been an integral part in the development of RAP as the leading manufacturer of sustainable food packaging solutions”.
Based in the UK, RAP makes sustainable packaging for fresh prepared foods sold at retail, including sandwiches and salads.
The company will join the ProAmpac brand and will maintain operations at its production facilities in Ireland and London.
Cincinnati-based ProAmpac’s acquisition of RAP expands its manufacturing capabilities to produce primary packaging for ready-to-eat and fresh prepared foods.
The company, which is owned by Pritzker Private Capital along with management and other investors, also aims to broaden its sustainable product offering for retail food markets.
“RAP is an excellent addition to the ProAmpac family. We are excited to add RAP’s focus on research and development for fresh prepared food packaging to our portfolio,” said Greg Tucker, CEO of ProAmpac.
“Together with RAP, we are extending our product reach in foodservice to now include a ready-to-eat portfolio, and we will continue to bring innovative ideas and products to a growing customer base.”
Chris Trick, investment partner at Pritzker Private Capital, added: “This acquisition extends ProAmpac’s capabilities into the fresh prepared and ready-to-eat retail market, an important strategic growth opportunity for the company.”
The financial terms of the transaction have not been disclosed.
In 2019, ProAmpac unveiled several new sustainable packaging ranges that were created as part of the company’s commitment to create increasingly sustainable flexible packaging solutions.
© FoodBev Media Ltd 2020