ProAmpac, a global flexible packaging and material science company, and Gelpac, a premier producer of multiwall paper and poly-woven packaging products, announced the signing of a definitive agreement under which ProAmpac will acquire Gelpac from an investor group led by NAMAKOR Holdings, including Groupe W Investissements and CDPQ.
The strategic acquisition of Gelpac’s production capabilities and high-performance paper and poly products will offer increased capacity and broaden ProAmpac’s product portfolio for customers across the United States and Canada. Combining Gelpac and ProAmpac will allow the company to better serve customers in the high-growth food and beverage, agriculture, industrial and pharmaceutical end markets.
Founded in 1956 and operating six facilities in the United States and Canada, Gelpac serves a growing and diversified customer base with a broad portfolio of multiwall paper bag and polyethylene packaging solutions. The company has built a stellar reputation for performance, a flexible business model with the ability to serve short- and long-run customers, turnkey capabilities and a deep commitment to innovation and sustainability. Gelpac will maintain its operational presence and head office in Quebec post-closing.
ProAmpac leverages its fiber and film-based materials science expertise to deliver greener flexible packaging products. Catering to industries such as food, pet care, healthcare, e-commerce, retail and industrial goods, ProAmpac operates 46 sites globally, with nearly 6,000 employees supplying more than 5,000 customers in 90 countries. The company is jointly owned by Pritzker Private Capital, management and other co-investors.
The transaction is subject to customary approvals and closing conditions and is expected to close in the coming weeks. Terms of the transaction were not disclosed.
