Illinois-based Soteria Flexibles has purchased Redi-Bag, a flexible packaging producer that serves primarily the seafood and produce markets.
Headquartered in Washington, Redi-Bag is a manufacturer of polyethylene film and plastic packaging serving the distribution and food processing markets, including meat and poultry, baked goods and fresh produce.
With the acquisition, Soteria Flexibles further strengthens its manufacturing capabilities and product offerings, in addition to expanding its geographical presence.
The company says the deal will give it access to new customers and improves its service to existing ones, as it looks to grow into a multi-regional provider of customised flexible packaging solutions.
Bradley Herbolsheimer, CEO of Soteria Flexibles, said: “Redi-Bag’s unparalleled approach to solutions development and customer service fits well under the Soteria umbrella. We look forward to working with Athos and the Redi-Bag team to accelerate our regional growth.”
Following the transaction, Soteria will continue to operate the acquired business under the Redi-Bag name.
Athos Ikonomou, president of Redi-Bag, added: “During the exploration and diligence processes, it became evident that Soteria is an ideal partner for Redi-Bag. We are excited about the increased value we can bring to our customers as part of the Soteria platform.”
Redi-Bag marks the second acquisition by Soteria, which was established in September 2019 in conjunction with private equity firm Ardian’s investment in Colonial Bag Corporation.
© FoodBev Media Ltd 2020
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