Exopak buys flexible packaging assets of PaperWorks Industries; PaperWorks moving all flexible manufacturing equipment to Exopak's North American sites; Exopak serves the pet food, frozen food, beverage, industrial, medical device markets
March 6, 2013
– PaperWorks Industries, Inc. is pleased to announce the March 1 sale of its flexible packaging assets to Exopack, a $900M flexible packaging company serving the pet food, frozen food, meat and cheese, beverage, industrial, electronics and medical devices through 17 North American production facilities. Both Exopack and PaperWorks are owned by the private investment firm Sun Capital Partners, Inc.
“We plan to move all of our flexible manufacturing equipment to Exopack sites in North America in the coming months,” said Lisa Pruett, Senior Vice President Sales at PaperWorks Packaging Group. “The relationships we have built with our flexible packaging customers are extremely valuable to us, which is why we will maintain the day-to-day management of the business.”
PaperWorks customers will have the opportunity to tap into Exopack’s vast resources and manufacturing footprint. “I can assure our customers that there will be absolutely no disruption to supply and quality, and that service and reliability will only be improved by Exopack’s resources,” said Pruett.
PaperWorks customers’ delivery pricing will remain the same, and the company has assigned one key customer service representative as an Exopack liaison. “Our clients will continue to receive quality service and the full attention of the team they have come to know and trust, with the addition of expanded manufacturing assets,” Pruett added.
Over the next few weeks, account executives will be able to provide account-specific details to customers as PaperWorks further develops its equipment transition plan to ensure continuity of supply.
“We greatly value the trust that our customers place in us, and thank them for their continued support,” said Pruett.
About PaperWorks Industries, Inc.
Founded in 2008, PaperWorks Industries, Inc. is a leading North American integrated full-service packaging provider. The company’s Packaging Division is considered a leading innovator in the production of specialized folding cartons, with facilities in the U.S. and Canada. Its Paperboard Division manufactures approximately 300,000 tons of 100% recycled paperboard every year for a variety of end uses, largely concentrated in consumer products. PaperWorks Industries, Inc. is headquartered in Philadelphia, PA and is home to nearly 1,600 employees across 17 North American locations with annual sales in excess of $600 million.
Exopack Holding is a leading North American flexible packaging converter and provider of paper and plastic packaging solutions. Managing 19 production facilities strategically positioned across North America and the United Kingdom, as well as a global network of allied partners, Exopack is an established leader in the development, manufacture, and sourcing of flexible packaging and coatings solutions for various consumer and industrial end-use markets. As a leader in the packaging industry, Exopack is also a member of the Sustainable Packaging Coalition.