Pregis Corp. to get new owner

By Jim Johnson
Senior Staff Reporter

Published: April 22, 2014 11:44 am ET
Updated: April 22, 2014 11:50 am ET

Image By: Pregis Corp. Pregis CEO Kevin Baudhuin says the firm's new private equity owner will continue to support its growth.

Related to this story

Topics Mergers & Acquisitions, Film & Sheet

The private equity owner of Pregis Corp. is selling off its North American operations for an undisclosed sum.

Olympus Partners of Stamford, Conn., is buying the business from AEA Investors LP, which acquired the Deerfield, Ill.-based maker of protective packaging materials and systems back in 2005.

Olympus also is signaling its plans to invest in the soon-to-be acquired operations.

“Pregis is well positioned for growth with innovative solutions, expanding markets and solid channel partnerships,” said Manu Bettegowda, a partner with Olympus Partners, in a statement.

Pregis also has operations in Europe that are not part of the deal announced April 22.

AEA Investors, with U.S. offices in New York and Stamford, created the Pregis brand when that private equity firm acquired the flexible and protective businesses of Pactiv Corp. in 2005 for approximately $530 million.

The company, with 14 facilities in North America, makes a variety of protective packaging, including bubble air cushioning, mailers, sheet foam, protective film, engineered foam, foam-in-place and specialty products. The company also has a line of paper packaging systems.

“Over the past decade, Pregis has established a strong track record of growing its business through product development, market diversification and acquisition,” Pregis CEO Kevin Baudhuin said in a statement. “Olympus Partners will continue supporting that growth by investing significant capital in the business.”

Baudhuin will continue leading the company after the sale.

Olympus manages more than $5 billion and has been in business since 1988. The company has made more than 60 investments over time and typically limits new investments to three or four each year, according to the firm’s website.

AEA Investors, founded in 1968, calls itself a pioneer in private equity. The firm was created through the Rockefeller, Mellon and Harriman families and S.G. Warburg & Co.

Terms of the deal, expected to close by the end of May, were not disclosed.


Comments

Pregis Corp. to get new owner

By Jim Johnson
Senior Staff Reporter

Published: April 22, 2014 11:44 am ET
Updated: April 22, 2014 11:50 am ET

Post Your Comments


Back to story


More stories

Image

Coveris makes another flexible packaging buy

August 22, 2014 9:34 am ET

Coveris Holdings is continuing its rapid acquisition pace, this time picking up flexible print specialist Learoyd Packaging (Holdings) Ltd. to boost...    More

Image

German injection molders Metz-Werke and Inotech to collaborate

August 21, 2014 11:47 am ET

German injection molding companies Metz-Werke GmbH & Co. KG and Inotech Kunststofftechnik GmbH have announced that they have joined forces to bring...    More

Image

Inteplast expands in corrugated sheet with Coroplast deal

August 21, 2014 5:28 pm ET

Packaging major Inteplast Group has acquired its main competitor in corrugated plastic sheet, Coroplast Inc. Inteplast gets corrugated sheet plants...    More

Image

NanoHolding, Applied Nanotech merge to form PEN Inc.

August 21, 2014 4:44 pm ET

Nanotechnology firms NanoHolding Inc. and Applied Nanotech Holdings Inc. are merging to create PEN Inc., a publicly held firm whose product mix will...    More

Image

Report predicts growth for flexible packaging

August 21, 2014 12:34 pm ET

Flexible packaging in the United States grew last year and is expected to continue to grow this year, according to a new report by the Flexible Packag...    More

Market Reports

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Pipe, Profile & Tubing Extrusion in North America 2014

U.S. demand for extruded plastics is expected to grow by 3 percent in 2014, with PVC remaining the largest segment.

Plastic pipe will post the strongest gains through 2018, continuing to take market share from competing materials in a range of markets.

Our latest market report provides in-depth analysis of current trends and their financial impact on the pipe, profile and tubing extrusion industry in North America.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events