ProAmpac, a global producer of flexible packaging and material science, announced the acquisition of UP Paper, a leading producer of recycled kraft paper. Terms of the transaction were not disclosed.
«The UP Paper team has done an incredible job building this great business. We look forward to building on their existing relationships and production expertise to serve our customer base with a broader suite of sustainable packaging products» says Greg Tucker, Founder, Vice Chairman and Chief Executive Officer of ProAmpac.
«ProAmpac has built an exceptional platform from which we can continue to grow our business» says Lars Dannberg, President and Ceo of UP Paper. «Together, we will have a strong portfolio of paper products and a shared commitment to excellence in customer service. I am confident our current and future customers will benefit from this partnership».
UP Paper, established in 2016, is a North American producer of 100% unbleached recycled kraft paper for packaging applications. UP Paper and ProAmpac, together will leverage combined fiber and film-based materials science expertise to create environmentally friendly flexible packaging products. Pritzker Private Capital, management, and other co-investors jointly own ProAmpac. «UP Paper will expand ProAmpac’s portfolio of recycled paper packaging products and extend the company’s presence in growth-oriented end markets» says Kaitlyn Desai, Principal at Pritzker Private Capital.