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ProAmpac buys multiwall paper bag maker El Dorado Packaging
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Flexible packaging converter ProAmpac is on the acquisition hunt again, buying multiwall packaging specialist El Dorado Packaging Inc.
Cincinnati-based ProAmpac announced the deal April 20. The seller is Evanston, Ill.-based investment firm Industrial Opportunity Partners LLC. Terms were not disclosed.
El Dorado makes custom paper-based packaging for retail and industrial market. It is based in Rosemount, Minn., and also has plants in El Dorado, Ark., and Omaha, Neb.
Its products include paper self-opening sacks, rollstock for consumer packaging and industrial multi-wall bags for food service, seed, animal health and chemical markets. ProAmpac highlighted that with this acquisition, it expands its multi-wall bag product offering into flour and food ingredients markets, while strengthening its capabilities in the market for paper packaging for industrial customers.
ProAmpac sees more investment from Pritzker, Singapore-based GIC
ProAmpac makes flexible packaging for a range of end markets.
GIC Private Ltd., a state-owned Singapore investment firm, is investing in packaging giant ProAmpac, along with Pritzker Private Capital.
In a Jan. 19 news release, officials with Cincinnati-based ProAmpac said that Pritzker of Chicago, which has owned a stake in ProAmpac since 2016, and GIC were investing to support ProAmpac s next phase of growth. Terms were not disclosed. Existing and new co-investors, as well as ProAmpac management, also were involved in the investment.
GIC is Singapore s sovereign wealth fund and was established in 1981 to manage Singapore s foreign reserves. The fund has investments in private equity, real estate and infrastructure.