ProAmpac buying fellow flexible packaging maker Gelpac

Flexible packaging maker ProAmpac is acquiring competitor Gelpac Inc, which has production facilities in Canada and the U.S.

The financial terms of the deal have not been disclosed.

Cincinnati-based ProAmpac, which is owned by Pritzker Private Capital and other investors, has a definitive agreement to purchase Gelpac, a maker of multiwall paper and poly-woven packaging products, from investment firms Namakor Holdings, Groupe W Investissements and CDPQ. Groupe W Investissements is a private equity fund in Montreal, and CDPQ is a global investment group based in Quebec City.

“ProAmpac is the ideal partner for Gelpac’s continued growth and innovation,” said Gelpac president and CEO Alain Robillard. “ProAmpac’s platform and capabilities will provide significant benefit to our customers and key partners as we continue to offer exemplary packaging solutions in the market.”

Gelpac was founded in 1956 and operates six facilities in Canada and the U.S. The company will maintain its operational presence and head office in Quebec after the deal closes, ProAmpac officials said.

ProAmpac operates 46 sites globally, with nearly 6,000 employees supplying more than 5,000 customers in 90 countries.