YORK, PA.--(BUSINESS WIRE)--
C-P Flexible Packaging (C-P), a leader in the flexible packaging industry, today announced the acquisition of privately held Fruth Custom Packaging, Inc. and affiliated company Cleanroom Film and Bag, Inc. located in Placentia, California. Both of the acquired companies specialize in manufacturing flexible rollstock and pre-made pouches used in cleanroom environments. C-P is a longstanding portfolio company of First Atlantic Capital, a New York based private equity firm. Terms of the transaction were not disclosed.
This acquisition provides C-P with expanded geographic reach on the West Coast and expertise in medical device, biopharmaceutical, electronics and semiconductor packaging. Fruth Custom Packaging and Cleanroom Film and Bag had common ownership with a long history of success. Manufacturing capabilities include several levels of cleanroom environments with in-house blown film extrusion, flexographic printing, specialty bag making and slitting. Distribution capabilities include a national network of specialty supply partners and a platform for e-commerce sales.
“We are delighted to welcome the leadership team and employees of Fruth and Cleanroom Film and Bag to our C-P family. With the global focus on health and wellness as well as the growth in semi-conductor demand for technologies like 5G, we see significant additional growth opportunities for Fruth’s sophisticated cleanroom packaging materials,” said Mike Hoffman, CEO of C-P.
According to Jim Fruth, President of Fruth Custom Packaging and Cleanroom Film and Bag, “We have always tried to provide value to our customers while delivering the highest quality, proof of traceability and zero defects. We are excited to join C-P, a company with strong manufacturing expertise and customer focus. We look forward to using our combined strengths to expand our reach throughout North America”.
“Our strategic plan was to help create a flexible packaging organization with coast-to-coast presence and a broad portfolio of products. The acquisition of Fruth, with its strong technological capabilities and West Coast location, represents an important step in achieving our goal”, stated Roberto Buaron, Chairman of First Atlantic Capital.
Emilio Pedroni, Managing Director of First Atlantic Capital stated, “This investment not only allows C-P to extend its footprint to the West Coast but it also gains access to additional high-growth markets. We are committed to supporting the C-P team as they expand their vision for the future”.
The Fruth family and management team were advised by Thomas Blaige & Company, LLC on the sale of Fruth Custom Packaging, Inc. and Cleanroom Film and Bag, Inc.
“The Blaige team utilized its deep industry knowledge to present my businesses as clear leaders in the value-added cleanroom packaging space, resulting in a successful partnership with C-P,” stated Jim Fruth.
To learn more about C-P Flexible Packaging’s expanded portfolio of flexible packaging products and capabilities, visit cpflexpack.com.
About C-P Flexible Packaging
Founded in 1958, C-P Flexible Packaging is one of the top custom flexible packaging suppliers in the U.S. and supports the growth efforts of some of the world’s leading consumer packaged goods companies. Headquartered in York, PA., C-P operates nine manufacturing plants across North America and employs over 800 people. The company brings together a full portfolio of flexible packaging formats spanning HD printed rollstock, premade pouches, shrink sleeves, stretch sleeves, poly bags, roll-fed labels, reclose, cold-seal flow wrap, compostable and recyclable flexible packaging. For more information on C-P Flexible Packaging, visit www.cpflexpack.com.
About First Atlantic Capital
Founded in 1989, First Atlantic Capital is a middle market private equity firm that leverages its extensive consulting and operational experience to acquire middle market companies, seeking to build them up to become market leaders. Since its inception, the firm has completed 88 acquisitions, assembling 22 successful platforms in various industries including plastics and packaging, food and beverage, consumer and industrial products and business services. Notable investments in the packaging industry include Berry Plastics, Ranpak, Captive Plastics, Resource Label Group and C-P Flexible Packaging. For additional information, visit www.firstatlanticcapital.com.
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