C-P Flexible Packaging, a portfolio company of First Atlantic Capital since February 2013, has acquired Genpak Flexible from The Jim Pattison Group.
Genpak Flexible’s products include die-cut rollstock and pouches, as well as paper-based laminations used in the coffee, confectionary, snack, medical and pet food industries. The company has facilities near Toronto in Aurora, Ontario and near Minneapolis in Lakeville, Minnesota.
C-P Flexible Packaging is a manufacturer of flexible packaging for the snack food, bakery, confection, and household chemical sectors. The company offers various flexible packaging products, including spanning HD printed rollstock, premade pouches, shrink sleeves, stretch sleeves, poly bags, roll-fed labels, reclose, cold-seal and recyclable flexible packaging.
With the buy of Genpak, C-P Flexible’s North American footprint now consists of six locations with more than 750 employees. C-P Flexible is led by CEO Mike Hoffman and, according to the company, is one of the top 20 flexible packaging suppliers in the U.S. C-P Flexible was founded in 1959 and is headquartered north of Baltimore in York, Pennsylvania.
“Our vision was to create a major player in the flexible packaging industry with diverse manufacturing capabilities—especially technologies to address speed to market and sustainability. With this transformational acquisition, we are well on our way to achieving our goal,” said Emilio Pedroni, a managing director of First Atlantic.
“We are pleased to continue to support the expansion of C-P Flexible Packaging as it evolves into a leader in the high-growth flexible packaging sector,” said Roberto Buaron, the chairman of First Atlantic. “This acquisition unlocks additional value by substantially expanding the range of products and capabilities we bring to the marketplace.”
New York City-based First Atlantic invests in middle-market companies that are active in the plastics and packaging, food and beverage, consumer and industrial products, and business services sectors. Since its inception in 1989, First Atlantic has acquired more than 70 companies and consolidated them into 22 platforms.
The Jim Pattison Group is a diversified holding company with more than $10 billion in annual sales and is the second-largest private company in Canada. The business is headquartered in Vancouver, British Columbia and has operating divisions in automotive, advertising, media, agricultural equipment, food and beverage, entertainment, exporting, financial, real estate, and periodical distribution sectors. The Jim Pattison Group acquired Genpak Flexible in 1989.
“We are very proud of our team at Genpak Flexible and the company that they have built,” said David Cobb, managing director of The Jim Pattison Group. “We believe both the employees and customers are in excellent hands with C-P Flexible Packaging and that the combined resources of the two companies will only strengthen the opportunities for both employees and customers.”
Private Equity Professional | June 23, 2020
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