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Flexible Packaging acquires Preferred Packaging

October 27/2021

MOSCOW (MRC) -- In a deal aimed at expanding its reach in the refrigerated and frozen prepared meal packaging systems markets, C-P Flexible Packaging (C-P) has acquired Sycamore Sales Inc., which is also known as Preferred Packaging, said Canplastics.

The financial terms of the deal have not been disclosed. Headquartered in Norcross, Ga., Preferred Packaging is a manufacturer of multilayer flexible films, thermoformed containers and a supplier of tray sealing equipment for meal solution providers and school systems.

C-P is a long-standing portfolio company of First Atlantic Capital, a New York based private equity firm. Preferred Packaging brings a variety of manufacturing capabilities including flexographic printing, laminating, slitting, mechanical macro perforating and micro laser perforating as well as thermoforming, C-P officials said in an Oct. 21 news release. Primary markets are prepared meals, value-added produce and processed meats. The company distributes nationally through a network of salespeople and independent sales representatives."

The addition of Preferred Packaging to the C-P portfolio significantly strengthens our capabilities to serve the processed food market while continuing to expand our geographical footprint and adding new market offerings to our diverse mix of products said Roberto Buaron, chairman of First Atlantic Capital.

As it was written earlier, in its fifth flexible packaging-related acquisition in the past two years, PPC Flexible Packaging TM LLC has purchased Popular Ink LLC, a McKinney, Texas-based supplier of printed laminated roll stock, gel and stick packs, stand-up pouches, and labels and sleeves. The financial terms of the deal have not been disclosed.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,396,960 tonnes in January-July 2021, up by 7% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market were 841,990 tonnes in the first seven months of 2021, up by 29% year on year. Supply of propylene homopolymers (homopolymer PP) and block-copolymers of propylene (PP block copolymers) increased, whereas supply of statistical copolymers of propylene (PP random copolymers) subsided.

C-P was founded in 1958, and is headquartered in York, Pa. The company manufactures HD printed rollstock, premade pouches, shrink sleeves, stretch sleeves, poly bags, roll-fed labels, reclose, cold-seal flow wrap, cleanroom packaging, and compostable and recyclable flexible packaging.
Author:Anna Larionova
Tags:PP, PE, packaging.
Category:General News
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