Printpack Acquires Seal-it
December 2006
|
ATLANTA, Ga.—Printpack Inc., a flexible packaging and specialty rigid container manufacturer, announced that it has reached an agreement to purchase Seal-it, Inc., a recognized leader in the U.S. packaging market of sleeved and flat heat-shrink PVC, PLA, PET-G and OPS films. The terms of the transaction were not announced.
Dennis M. Love, president of Printpack Inc., said, “Seal-it is an ideal addition to Printpack. It brings us new and important market relationships, and the company has a proven record of delivering superior products and service to its customers. This transaction strengthens our strategic commitment to expanding our offerings of value-added flexible packaging.”
According to Sharon Lobel, founder and president of Seal-it, Inc., “We are proud of the success we have enjoyed over the past 20 years, yet realize that to take the business to the next level requires resource support greater than we can manage.” Lobel added, “We’re very happy that a company of Printpack’s reputation will be the new owner of Seal-it. Printpack is recognized for its commitment to capital reinvestment as well as a strong dedication to its associates and the communities in which it operates. I am pleased to be staying on as a full-time consultant to Printpack following the completion of the sale.”
Love commented, “We’re confident this acquisition will allow Printpack to apply its strengths of operational efficiency and technology development in a new but related market area. We see this addition providing a number of synergistic opportunities with Printpack’s existing customers in both flexible and rigid packaging.”
Advisors to the transaction were Alston & Bird LLP for Printpack, and Conway, Del Genio, Gries & Co., LLC and O’Melveny and Myers LLP for Seal-it.
With headquarters in Atlanta, Printpack was founded in 1956 and is privately held. Today, Printpack is one of the largest and most innovative packaging converters in the world with more than $1 billion in sales, 4,000 employees, and 23 manufacturing locations in the U.S., Mexico, and Great Britain.
Dennis M. Love, president of Printpack Inc., said, “Seal-it is an ideal addition to Printpack. It brings us new and important market relationships, and the company has a proven record of delivering superior products and service to its customers. This transaction strengthens our strategic commitment to expanding our offerings of value-added flexible packaging.”
According to Sharon Lobel, founder and president of Seal-it, Inc., “We are proud of the success we have enjoyed over the past 20 years, yet realize that to take the business to the next level requires resource support greater than we can manage.” Lobel added, “We’re very happy that a company of Printpack’s reputation will be the new owner of Seal-it. Printpack is recognized for its commitment to capital reinvestment as well as a strong dedication to its associates and the communities in which it operates. I am pleased to be staying on as a full-time consultant to Printpack following the completion of the sale.”
Love commented, “We’re confident this acquisition will allow Printpack to apply its strengths of operational efficiency and technology development in a new but related market area. We see this addition providing a number of synergistic opportunities with Printpack’s existing customers in both flexible and rigid packaging.”
Advisors to the transaction were Alston & Bird LLP for Printpack, and Conway, Del Genio, Gries & Co., LLC and O’Melveny and Myers LLP for Seal-it.
With headquarters in Atlanta, Printpack was founded in 1956 and is privately held. Today, Printpack is one of the largest and most innovative packaging converters in the world with more than $1 billion in sales, 4,000 employees, and 23 manufacturing locations in the U.S., Mexico, and Great Britain.
|
Best Practices for Print Automation
Competing for Print’s Thriving Future