Investment firm Soteria Flexibles buys flexible packager Redi-Bag
Tukwila, Wash.-based Redi-Bag serves a diverse set of customers primarily in the seafood and produce packing markets.
Redi-Bag, Inc., a major manufacturer of polyethylene film and plastic packaging in the Pacific Northwest, has been acquired by Soteria Flexibles Holdings, a portfolio company owned by French private equity firm Ardian, for an undisclosed price.
Headquartered in Tukwila, Wash., Redi-Bag serves a diverse set of customers primarily in the seafood and produce packing markets. Soteria will continue to operate the acquired business under the Redi-Bag name.
Founded in 1992, Redi-Bag makes low density polyethylene film and protective packaging, primarily for the food packaging market in the Pacific Northwest. Key markets include seafood and produce packaging.
The Redi-Bag deal is the second acquisition of a film manufacturer and flexible packaging converter by Soteria Flexibles, which was established in September 2019 by Ardian in conjunction with its acquisition of Colonial Bag Corp., to invest in film manufacturers and flexible packaging converters specializing in shorter-run, custom product offerings.