|Original Press release|
12025 Tricon Rd.
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Ampac Packaging Acquires International Retort Pouch Converter-Floeter Flexible Packaging
CINCINNATI, Sept. 6 /-- Ampac Packaging LLC has acquired privately-held, Floeter Flexible Packaging Group, Eberdingen, Germany for an undisclosed amount.
Floeter specializes in stand-up pouch converting and is known for its best-in-class retort pouch-making capability. Founded in 1985, Floeter is a supplier to many premier, multinational global food and pet food brands.
The acquisition includes two manufacturing locations in Germany (Eberdingen, near Stuttgart, and Leipzig), one in India (New Delhi), and one in the United States (Chicago). Going forward, Floeter and its employees will become part of the Ampac Flexibles division of Ampac Holdings LLC.
"We could not be more excited about Ampac and Floeter joining together. This is a remarkable combination of organizations, technology and capabilities. The company's long standing reputation as a frontrunner and technology leader for preformed retort pouches makes the acquisition a perfect next step in our strategic growth plan," says John Baumann, president and chief executive officer, Ampac.
The Floeter organization is headed by Marc Rapp, CEO, who will continue as an Ampac shareholder and president of Ampac's global pouching division. Rapp founded Floeter in 1985 and has gained a global reputation as an expert in retort pouch converting.
"This acquisition and the combination of two strong pouching companies will generate synergies for both. Our respective customers will now be able to benefit from shared technology and manufacturing expertise," says Rapp.
With Rapp at the helm, Floeter will continue as a standalone company, reporting to George Thomas, vice president and general manager, Ampac Flexibles.
"Through Marc's leadership, the company's operating and sales teams are known for their rigorous quality and service levels. We look forward to welcoming Floeter's team of experts to Ampac. The acquisition is just one more step towards Ampac becoming the world's premier supplier of stand-up pouches," says Thomas.
Floeter has built its reputation as the technology, quality, and service leader in pouch manufacturing. In the '90s, the company anticipated worldwide growth in pouch usage, continuously investing in leading edge equipment and proprietary pouch producing capabilities.
Ampac Packaging LLC, a diversified, international, flexible packaging company, is privately held, and is owned by senior executives together with equity backing by Prudential Capital Group and Falcon Investment Advisors.
With the addition of Floeter, Ampac will operate 14 manufacturing centers in North America, Europe, and Asia. Ampac employs approximately 1,300 people with annual revenues in excess of $300 million. In addition to products offered by Ampac Flexibles, the company is the preeminent supplier of retail specialty shopping bags and security packaging solutions to the major department stores and specialty retailers throughout North America.
Source: Ampac Packaging LLC
CONTACT: Lisa Fey of Ampac Packaging, +1-513-551-1209, email@example.com, or Sophia Dilberakis of SD Communications,
Web site: http://www.ampaconline.com/