ProAmpac Acquires Ultimate Packaging

Extends Leadership in Sustainable Packaging Solutions while Expanding United Kingdom Presence

CINCINNATI – July 1, 2021 – ProAmpac, a leader in flexible packaging and material science, today announced that it has acquired Ultimate Packaging, a pioneer in flexographic and digitally-printed flexible packaging based in the United Kingdom. Terms of the transaction were not disclosed.

Ultimate Packaging is one of the largest independent flexible packaging manufacturers in the U.K., specializing in the development of innovative packaging solutions to increase product shelf life, convenience and recyclability across a range of product sectors. With this acquisition, ProAmpac strengthens its position in flexible food packaging, broadens its portfolio of sustainable solutions and extends its reach across the U.K.

Greg Tucker, Founder and CEO of ProAmpac, said, “Ultimate Packaging’s innovative team and high-quality flexible packaging portfolio are exciting complements to ProAmpac’s growing family. As we expand our reach across the U.K., this combination will help us better serve our customers with an enhanced offering of recyclable and compostable solutions.”

Nigel Tonge, Founder of Ultimate Packaging, said, “As a family-owned business, it was important for us to select a partner who shared our values, commitment to innovation and philosophy of partnership with our customers. We are pleased to work together with Greg and the ProAmpac team to extend our collective market leadership and provide tremendous value to our customers.”

Jeremy Hodson, Managing Director of Ultimate Packaging, said, “The Ultimate operations team and I, who will remain with the company, are looking forward to working with the ProAmpac team to further enhance our customer offering and opportunities for growth.”

Cincinnati-based ProAmpac is owned by Pritzker Private Capital along with management and other co-investors. The addition of Ultimate Packaging is ProAmpac’s fourth acquisition in 2021. ProAmpac has nearly 50 manufacturing sites globally, with more than 5,800 employees supplying more than 5,000 customers in 90 countries. ProAmpac innovates, engineers and manufactures flexible and sustainable packaging and material science solutions for various consumer, healthcare, e-commerce, retail and industrial goods markets. Ultimate Packaging will adopt the ProAmpac brand and will maintain operations at its manufacturing facility in Grimsby, U.K.

Chris Trick, Investment Partner at Pritzker Private Capital, said, “The acquisition of Ultimate Packaging is ProAmpac’s third acquisition in the U.K. this year. We are pleased to continue our partnership with ProAmpac as the company further strengthens its offering of sustainable flexible packaging solutions.”

About ProAmpac
ProAmpac is a leading global flexible packaging company with a comprehensive product offering, providing creative packaging solutions, industry-leading customer service and award-winning innovation to a diverse global marketplace. ProAmpac’s approach to sustainability – ProActive Sustainability® – provides innovative sustainable flexible packaging products to help our customers achieve their sustainability goals. We are guided in our work by four core values that are the basis for our success: Integrity, Intensity, Innovation, and Involvement. Cincinnati-based ProAmpac is owned by Pritzker Private Capital along with management and co-investors. For more information, visit ProAmpac.com or contact Media@ProAmpac.com.

About Ultimate Packaging
The Ultimate Group is one of the U.K.’s largest independently owned flexible packaging manufacturer, providing a multi-award winning service to major U.K. retailers, packers and global brands. Our two divisions, Ultimate Packaging and Ultimate Digital, provide state-of-the-art printing techniques and innovative sustainable packaging solutions. We pride ourselves on being attentive to the needs of our customers, providing high quality support throughout the supply chain, with flexible and responsive lead times. For more information, visit ultimate-packaging.co.uk.

About Pritzker Private Capital
Pritzker Private Capital partners with middle-market companies based in North America with leading positions in the manufactured products, services and healthcare sectors. The firm's differentiated, long-duration capital base allows for efficient decision-making, broad flexibility with transaction structure and investment horizon, and alignment with all stakeholders. Pritzker Private Capital builds businesses for the long term and is an ideal partner for entrepreneur- and family-owned companies. Pritzker Private Capital is a signatory to the United Nations Principles for Responsible Investment (PRI). For more information, visit PPCPartners.com.