Pregis Corp. has acquired Easypack, a United Kingdom-based protective packaging company founded in 1992, for an undisclosed amount. The deal brings Easypack’s “line of paper void fill, cushioning and block/brace solutions” to Pregis’ product portfolio for the buyer’s North American customers.
As part of the deal, Chicago, Illinois-based Pregis will continue to operate Easypack’s three European manufacturing facilities, including the target’s offices and distribution centers in France and Germany. Easypack employs nearly 70 workers across the U.K. Kevin Baudhuin, Pregis’ chief executive officer, says Easypack’s track record of more than 20 years and “its’s successful expansion into Europe led to the company being awarded the prestigious Queen's Award for International Trade on three occasions.”
Pregis, also a manufacturer of protective packaging products and technology, has more than 14 locations throughout North America with approximately 1,000 employees. The packaging provider offers products for companies across a variety market segments including: food and beverage, healthcare, agriculture, e-commerce and retail, automotive, military and aerospace and furniture.
Pregis is backed by Olympus Partners, a private equity firm based in Stamford, Connecticut. The majority of the firm’s limited partners have committed capital of $2.3 billion. In addition to Pregis, Olympus is also invested in Liqui-Box.
Packaging companies have seen growing interest recently. Similar packing-related deals to occur in 2016 include Packaging Corp. of America (NSE: PKG) acquiring TimBar Corp.; Packager Novolex, backed by TPG Growth and Wind Point Partners, agreeing to buy Heritage Bag Company; Bemis Co. Inc. (NYSE: BMS) purchasing SteriPack Group’s medical packaging sector; Quad-C making an investment to back Inmark Packaging; and CCL Industries Inc., a labeling and packaging company, agreeing to purchase Checkpoint Systems.