Pregis enters into definitive agreement to purchase FP International
DEERFIELD, Ill., June 19, 2018 /PRNewswire/ -- Pregis LLC, a leading manufacturer of innovative protective packaging materials, equipment systems and surface protection, has entered into a definitive agreement to purchase Free-Flow Packaging International, Inc. (FP International). The acquisition is expected to be finalized in the coming weeks, subject to customary closing conditions and regulatory review.
"The acquisition of FP International will benefit our combined customer base by providing a robust set of diverse solutions and accelerated product development—most notably to address growing e-commerce shipping requirements. This also significantly strengthens Pregis' geographic position within new international markets, supporting our global growth strategy," said Kevin Baudhuin, president and chief executive officer. "Additionally, we look forward to welcoming FP's exceptional professionals to the Pregis team. Our cultural similarities will fuel future growth."
FP International has a 50 year history of providing a wide range of protective packaging solutions. Its well-known brands include the MINI PAK'R®, PRO PAK'R® and POWER PAK'R® and many other protective packaging products. The company was founded in 1967 by Arthur Graham, who pioneered the use of free-flowing interior packaging material. FP International has been transformed over the past two decades from a single-product company to a leading provider of protective packaging solutions with multinational operations.
FP International President Joe Nezwek said, "We're excited to become a part of Pregis' expanding protective packaging portfolio. This will enable us to continue FP's 50-year commitment to innovation and outstanding customer service. As one company, we can accelerate our efforts to meet the evolving needs of our customers."
Headquartered in Fremont, California, FP has five manufacturing facilities—two in the United States plus Germany, France and the Netherlands—supported by 360 employees. Pregis plans on continuing manufacturing operations in those locations.
FP International is the sixth acquisition Pregis has completed in the past four years under Olympus Partners ownership. The other five are Rex Performance Products, Sharp Packaging, 3M Company's PolyMask protective films business, Easypack paper-based protective packaging systems and Eagle Film Extruders.
About FP International
Serendipitously started with a batch of discarded soda straws five decades ago, FP International has grown to become a global leader of innovative protective packaging products and systems. Now widely recognized for its sophisticated product design and customer-centric culture as well as its trail-blazing technology, FP International operates on three continents, providing interior packaging solutions to a wide array of industries, from automobiles to toys. For more information: www.fpintl.com, www.minipakr.com.
About Pregis
Pregis LLC is a customer-driven solutions provider of innovative protective packaging materials, equipment systems and surface protection. As a material neutral company, the company works with its customers to find the right solution to solve their business challenges. Pregis serves a wide variety of consumer and industrial market segments including food, pharmaceutical, healthcare, medical devices, agricultural, e-commerce, retail, automotive, transportation, furniture, electronics, building, construction and military/aerospace. For more information: www.pregis.com.
SOURCE Pregis LLC
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