Pritzker Group Private Capital, which acquires North America-based middle-market companies, has completed the acquisition of ProAmpac, a leading global flexible packaging company from Wellspring Capital Management. ProAmpac management team will continue to be a significant shareholder in ProAmpac, lead the company and serve on its board of directors.
The two companies signed a definitive acquisition agreement back in October. Pritzker Group and other co-investors are invested alongside the ProAmpac, following the acquisition.
“ProAmpac is a leader in flexible packaging with an outstanding management team. Combining our permanent, proprietary capital base with this management team will enable ProAmpac to have tremendous opportunities for growth, both through organic initiatives and accretive acquisitions,” said J B Pritzker, managing partner of Pritzker Group.
“We live our core values of integrity, intensity, innovation and involvement every day – and we are pleased to work with a group that understands this commitment to our customers, suppliers and employees. Pritzker Group's knowledge of the packaging market and permanent capital base will allow us to continue our strong track record of growth, innovation and successful acquisitions,” said Greg Tucker, CEO of ProAmpac.
US based ProAmpac operates under the Prolamina, Ampac and Tulsack brands and has more than 2,400 employees across 18 manufacturing locations in North America, Europe and Asia. The company offers a broad range of products and capabilities and its technology-driven, innovative, flexible packaging solutions make it a leader in various fields including specialty retail markets. (KD)
Fibre2Fashion News Desk – India