The chief executive and chairman of the board of Mod-Pac Corp. (NYSE: MPAC), a printing company that designs and manufactures packaging, has proposed to take the company private for $7.20 per share, or about $23.1 million. The chief executive, Daniel Keane, and the chairman of the board, Kevin Keane, who made the proposal, own 43 percent of the company’s stock.Mod-Pac, headquartered in Buffalo, N.Y., plans to form a special committee to review the proposal. The company's clients include Eucerin, Phisoderm and Tom's of Maine.

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