Flexible packaging converter ProAmpac is on the acquisition hunt again, buying multiwall packaging specialist El Dorado Packaging Inc.
Cincinnati-based ProAmpac announced the deal April 20. The seller is Evanston, Ill.-based investment firm Industrial Opportunity Partners LLC. Terms were not disclosed.
El Dorado makes custom paper-based packaging for retail and industrial markets. It is based in Rosemount, Minn., and also has plants in El Dorado, Ark., and Omaha, Neb.
Its products include paper self-opening sacks, rollstock for consumer packaging and industrial multiwall bags for foodservice, seed, animal health and chemical markets. ProAmpac highlighted that with this acquisition, it expands its multiwall bag product offering into flour and food ingredients markets, while strengthening its capabilities in the market for paper packaging for industrial customers.
Greg Tucker, founder and CEO of ProAmpac, said in a news release that the combined firms will enter new end markets, broaden their product offering and serve an expanding customer base.
ProAmpac is owned by Pritzker Private Capital along with management and other co-investors. The addition of El Dorado is ProAmpac's third acquisition in 2021. In January, ProAmpac bought Rapid Action Packaging Ltd., a Wimbledon, England-based maker of cellulose-based packaging for prepared foods. In March, it purchased IG Industries plc in Brigg, England, and Brayford Plastics Ltd. in Dunholm, England.
ProAmpac has 41 manufacturing sites globally, and more than 5,200 employees. El Dorado will adopt the ProAmpac brand and will maintain operations at its three manufacturing facilities.
ProAmpac ranked as North America's ninth-largest film and sheet maker, with plastics-related sales in the region of just under $1 billion in 2019, according to Plastics News data.
Mesirow served as financial adviser to El Dorado Packaging.