Storopack confirms asset deals with Sealed Air and CPI
Packaging solution provider to strengthen commitment to loose fill business in North America.
Effective January 1, 2016, Storopack, a manufacturer and marketer of protective packaging solutions, will effectively close two asset deals with Sealed Air and CPI.
The acquisitions will enable Storopack to increase its existing loose fill business in the USA and Canada, while further enhancing its competitive offering to its many distributors and customers in North America.
Storopack will be acquiring CPI’s New Jersey businesses in expanded polystyrene (EPS), BIO Loose Fill and Bubble products which are currently served out of Somerset, N.J. Storopack will also be taking over Sealed Air’s national businesses in EPS and BIO Loose Fill as well as cushion-bags which are currently served out of several Sealed Air locations across the country. In both cases, Storopack will be taking on full responsibility for delivery, invoicing and serving all of the two businesses’ respective customers.
Production of the acquired loose fill and bubble products will be integrated into Storopack’s current production network in the USA, enabling more productive use of capacities, while strengthening its portfolio of products and services to its distributors and customers throughout North America.
“Both acquisitions increase Storopack’s Loose Fill business in North America and strengthen the company both strategically and operationally in a challenging protective packaging market segment,” commented Daniel Wachter, president of Storopack North America.
Over the past years, Storopack has initiated strategic, targeted regional expansion in the USA, with a number of acquisitions and partnerships in the important North American market.
“These two acquisitions clearly reflect our ongoing dedication to customers with our ‘Perfect Protective Packaging’ mission and strategy,” Wachter said, “which make us constantly improving the productivity of our customers’ protective packaging processes and their clients’ unboxing experiences.”
Full integration of both acquisitions is currently taking place through November and December 2015 and will be effectively closed on January 1, 2016, in sales and marketing, operations and services, accounting and controlling, IT and human resources.
