Ampac Merges with Prolamina to Create New Flexible Packaging Company
Wellspring Capital Management, a New York-based private equity firm, announced both the acquisition of Ampac Holdings and a merger with Prolamina Corp. to create a company focused on flexible packaging. The new company will be based in Cincinnati, and will combine Ampac’s adhesive lamination, rotogravure printing capabilities and packaging solution strengths with Prolamina’s extrusion lamination and flexographic printing abilities.
“The acquisition of Ampac and its combination with Prolamina reflects the attractiveness of the global packaging industry,” said Matthew Harrison, a principal of Wellspring. “We believe there is increasing growth potential in the sector given the shift towards flexible packaging solutions driven by shifting consumer demands.”
Greg Tucker, CEO of Prolamina will continue in his role as CEO of the newly formed company. Financial terms were not disclosed.