Soteria Flexibles has completed the acquisition of Redi-Bag Inc., a manufacturer of polyethylene film and plastic packaging in the Pacific Northwest. Headquartered in Tukwila, WA, Redi-Bag serves a diverse set of customers primarily in the seafood and produce packing markets.
Bradley Herbolsheimer, CEO of Soteria Flexibles, commented, “Athos Ikonomou, president of Redi-Bag, has built out a world class team and a state-of-the-art facility. 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.”
“During the exploration and diligence processes, it became evident that Soteria is an ideal partner for Redi-Bag,” added Ikonomou. “We are excited about the increased value we can bring to our customers as part of the Soteria platform.”
Redi-Bag represents the second acquisition by Soteria Flexibles, which was established in September 2019 by Ardian, a global private equity firm, in conjunction with its acquisition of Colonial Bag Corp., to invest in film manufacturers and flexible packaging converters specializing in shorter-run, custom product offerings.