Packaging supplier Good Natured Products enters medical and pharmaceutical industry

On the heels of its recent acquisition of Shepherd Thermoforming & Packaging Inc., Vancouver-based packaging supplier Good Natured Products has begun supplying the medical and pharmaceutical industry with packaging for such items as packaging for COVID-19 testing kits, and personal protective equipment such as COVID-19 medical face shields.

In a statement, Good Natured said that it was able to enter this new market segment with the closing of its acquisition of Brampton, Ont.-based Shepherd Thermoforming, which was first announced in March and definitively closed on May 13, 2020.

“Effective May 1, [we] acquired agreements to ship 47 different products to 17 customers in this segment with anticipated annualized sales in the range of CAD$1.3 to CAD$2.3 million with gross margins of 35% to 45%,” the statement said.

“The entry into this new market segment allows us to play our part in the fight against COVID-19,” said Paul Antoniadis, CEO of Good Natured. “It also expands our growth opportunities by further expanding diversification of our product and customer mix, which is a cornerstone of our strategy.”

Founded in 2006 and formerly known as Solegear Bioplastic Technologies Inc., Good Natured is a plant-based products and packaging company that designs, produces, and distributes bioplastics for use in packaging and durable product applications. The company changed its name to Good Natured Products in 2017.