YORK, Pa.–(BUSINESS WIRE)–CP Flexible Packaging (CP), a leader in the flexible packaging industry, announced the acquisition of privately held Bass Flexible Packaging, Inc. (Bass).With the addition of Bass, CP expands into the highly attractive confectionary and health and beauty markets and adds state-of-the-art short- and short-term delivery capabilities.CP is a long-term portfolio company of New York-based private equity firm First Atlantic Capital.Terms of the deal were not disclosed.
Based in Lakeville, Minnesota, Bass has developed a customer-focused service model, supported by flexible assets and systems that allow the company to meet short lead times for a wide range of order quantities.Bass manufactures a wide range of stand-up pouches, pre-made pouches and shrink sleeves.This strategic investment complements CP Flexible Packaging’s state-of-the-art processing capabilities.CP Flexible Packaging’s North American footprint now consists of 11 locations with more than 1,000 employees.
According to Mike Hoffman, CEO of CP Flexible Packaging, “Shaffers has developed one of the most flexible service models in the Bass industry, focusing precisely on the market’s need for short lead times and run lengths. Combine this unique advantage with its high growth end markets, complementing CP’s strategic initiatives in these areas. We are delighted to welcome the Bass family to our team!”
“We are very proud of our team at Bass and the business we have built,” said Bass co-owner Andrew Shaffer.”We believe our business is in good hands with the help of CP Flexible, and the integration of resources between the two companies will only increase opportunities for employees and customers.”
“The acquisition of Bass further enhances our significant position in the flexible packaging industry. From the beginning, our goal was to create a diverse manufacturer of high-quality flexible packaging products for various markets in North America. With Bass and the completion of last year of other acquisitions, which we successfully achieved,” said Roberto Buaron, Chairman of First Atlantic Capital.
Emilio S. Pedroni, Managing Director of First Atlantic Capital, added, “The Bass transaction represents another step towards creating a differentiated North American flexible packaging industry leader. We are delighted to join forces with Bass, which will expand our clientele demand, increase product proliferation and shorten lead times to meet today’s market demands.”
To learn more about CP Flexible Packaging’s expanded flexible packaging portfolio and capabilities, visit cpflexpack.com.
Founded in 1958, CP Flexible Packaging is one of the top 20 flexible packaging suppliers in the United States and supports the growth efforts of some of the world’s leading consumer packaging companies.Headquartered in York, Pennsylvania, the company brings together a complete line of flexible packaging formats covering HD printed rolls, prefabricated bags, shrink sleeves, stretch sleeves, plastic bags, web labels, coincidence, cold seal, clean room products, thermoforming and more. Product combination pallets and recyclable flexible packaging.For more information on CP Flexible Pack, visit www.cpflexpack.com.
Founded in 1989, First Atlantic Capital is a mid-market private equity firm that leverages its extensive advisory and operational experience to acquire mid-market companies in an effort to build them into market leaders.Since its inception, the company has completed more than 70 acquisitions and assembled 22 successful platforms across 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 CP Flexible Packaging.For more information, visit www.firstatlanticcapital.com.
Post time: Mar-18-2022