STOROPACK CONFIRMS ASSET DEALS WITH SEALED AIR (SEE) AND CPI

STRENGTHENED COMMITMENT TO LOOSE FILL BUSINESS IN NORTH AMERICA

Effective January 1, 2016, Storopack, a manufacturer and marketer of protective packaging solutions, will effectively close two asset deals with Sealed Air (SEE) and CPI. The acquisitions will enable Storopack to increase its existing Loose Fill business in the USA and Canada, while further enhancing its competitive offering to its many distributors and customers in North America.

Storopack will be acquiring CPI’s New Jersey businesses in EPS, BIO Loose Fill and Bubble products which are currently served out of Somerset, New Jersey. Storopack will also be taking over SEE’s national businesses in EPS and BIO Loose Fill as well as cushion-bags which are currently served out of several SEE locations across the country. In both cases, Storopack will be taking on full responsibility for delivery, invoicing and serving all of the two businesses’ respective customers.

Production of the acquired Loose Fill and Bubble products will be integrated into Storopack’s current production network in the USA, enabling more productive use of capacities, while strengthening its portfolio of products and services to its distributors and customers throughout North America. “Both acquisitions increase Storopack’s Loose Fill business in North America and strengthen the company both strategically and operationally in a challenging protective packaging market segment,” commented Daniel Wachter, President of Storopack North America.

With a network of 18 production plants and warehouses in the USA and Canada, Storopack ensures on-time, efficient Loose Fill deliveries to its valued customers in both markets. The company combines this EPS and BIO Loose Fill offering with products such as BUBBLEplus® (bubble wrapping), MAILERplus® (Bubble mailers & bubble-outbags), PE foam, single-face corrugated etc. Both acquisitions significantly enhance Storopack’s commitment to Loose Fill as one of its core product offerings.

Over the past years, Storopack has initiated strategic, targeted regional expansion in the USA, with a number of acquisitions and partnerships which enable Storopack to even better serve its distributors and customers in key business areas and to further develop business opportunities in the important North American market.

“These two acquisitions clearly reflect our ongoing dedication to customers with our ‘Perfect Protective Packaging’ mission and strategy,” highlighted Daniel Wachter, “which make us constantly improving the productivity of our customers’ protective packaging processes and their clients’ unboxing experiences.

Full integration of both acquisitions is currently taking place through November and December 2015 and will be effectively closed on January 1, 2016, in sales and marketing, operations and services, accounting and controlling, IT and Human Resources.