ProAmpac, a global leader in flexible packaging, has finalized the acquisition of UP Paper, a prominent producer of recycled kraft paper. The terms of the deal remain undisclosed.
Greg Tucker, founder, vice chairman and CEO of ProAmpac, expressed excitement about integrating UP Paper's expertise and relationships to enhance their sustainable packaging offerings.
Lars Dannberg, president and CEO of UP Paper, emphasized the strategic fit between the companies, foreseeing benefits for customers through an expanded product portfolio and enhanced service.
Established in 2016, UP Paper specializes in 100% unbleached recycled kraft paper for packaging, aligning well with ProAmpac's commitment to environmentally friendly solutions. Together, they aim to leverage their combined expertise in fiber and film-based materials science to create innovative packaging solutions.
The acquisition, backed by Pritzker Private Capital, underscores ProAmpac's dedication to growth and diversification in key markets, as noted by Kaitlyn Desai, principal at Pritzker Private Capital.
