ProAmpac, a portfolio company of Pritzker Group Private Capital, has acquired Bonita Pioneer Packaging Products. Pritzker acquired ProAmpac from Wellspring Capital Management in October 2016.
Bonita Pioneer is a manufacturer of paper packaging products including custom and stock shopping bags, merchandise bags, foodservice packaging, and folding cartons. In addition to its Portland, OR headquarters, the company has three other facilities: a 53,000 square-foot facility in Portland produces handle shopping bags, merchandise bags, giftwrap and roll stock; a 94,000 square-foot facility in Portland houses the company’s folding carton division and finished goods warehouse; and a 104,000-square-foot facility in Forest City, NC produces handle shopping bags and roll stock. Bonita Pioneer was founded in 1989 (www.bonitapioneer.com).
“The acquisition of Bonita expands ProAmpac’s paper packaging manufacturing footprint in the Western and Southeastern US, creating more value and optimizing services for our customers,” said ProAmpac CEO Greg Tucker.
ProAmpac’s packaging capabilities include adhesive lamination, extrusion coating and lamination, film extrusion, metalizing, pouching, bag converting, rotogravure printing, flexographic/offset printing, and HD flexo printing. The company operates under the Prolamina, Ampac, Tulsack and Trinity Packaging brands and serves customers in the food, pet care, health care, lawn care, and retail markets as well as providing packaging used in the transport of cash and valuables. With the addition of Bonita, ProAmpac now has 27 manufacturing sites with nearly 3,300 employees supplying more than 5,000 customers in 90 countries. ProAmpac is headquartered in Cincinnati (www.proampac.com).
Bonita Pioneer’s product line complements ProAmpac’s existing flexible packaging offerings and the company is now part of the ProAmpac brand and operates as part of the company’s US Flexibles Division, led by President Tom Geyer.
“The Bonita acquisition is a compelling opportunity for ProAmpac to further its leadership position in retail and foodservice paper bags and underscores our continued commitment to supporting ProAmpac’s growth strategy,” said Chris Trick, a Principal at Pritzker Group Private Capital.
Pritzker Group, founded by Tony and J.B. Pritzker, has three principal investment teams: Private Capital, which acquires and operates North America-based middle-market companies in the manufactured products, services and healthcare sectors; Venture Capital, which provides early-stage and growth venture funding to technology companies; and Asset Management, which partners with investment managers across global public markets. The Pritzker Group is based in Chicago (www.pritzkergroup.com).
© 2018 Private Equity Professional | January 10, 2018
