Packaging leader ProAmpac has put another gift under its Christmas tree, acquiring Prairie State Group for an undisclosed price.
The deal is the eighth of the year for Cincinnati-based ProAmpac. Prairie State Group is a maker of flexible packaging and labels based in Franklin Park, Ill.
In a Dec. 20 news release, ProAmpac officials said that the acquisition "strengthens [the firm's] flexible and sustainable packaging offerings for the food and pet food markets and expands its labeling capabilities."
Products made by PSG include wrappers, pouches, compostable film, roll stock and pressure-sensitive labels. PSG's founders and management team will remain with the business post-transaction.
"As we continue our growth and expansion strategy, PSG's world-class manufacturing capabilities, strong market position and commitment to product quality will enhance our offering to customers around the world," ProAmpac founder and CEO Greg Tucker said in the release.
PSG President Graham Redding added that PSG's expertise in labeling, pouching and compostable products "is a great fit with ProAmpac's offering of sustainability-focused packaging solutions."
The PSG deal is ProAmpac's first since November when it acquired Irish packaging suppliers Fispak Ltd. of Dublin and Irish Flexible Packaging of Wicklow. Both of those firms had been owned by IFP Investments Ltd.
ProAmpac has grown to nearly 50 locations around the world and 5,800 employees since Pritzker Private Capital of Chicago acquired the firm in 2016. Management and other co-investors also have a stake in the firm.
ProAmpac ranked ninth among North American film and sheet makers in the most recent Plastics News industry ranking, with annual sales estimated at just over $1 billion.