Packaging Dynamics Corp., Chicago, a flexible packaging and specialty paper manufacturer, is acquiring Montreal-based Groupe De Luxe, a North American manufacturer of flexible packaging products for food service, bakery, supermarket, confectionery, dairy and other specialty applications.
“The acquisition of De Luxe represents an important milestone in the development of Packaging Dynamics," says Roger Prevot, Packaging Dynamics' CEO. “De Luxe will support our continuing growth with the addition of leading positions in new geographies, products and end markets. The combination provides Packaging Dynamics with a number of strategic benefits including broader technical and manufacturing capabilities, a number of well-respected brands, an expanded customer base and a more balanced manufacturing platform. We look forward to using these expanded offerings and capabilities to better meet the needs of our customers across our entire flexible packaging business. We are pleased to welcome the management and employees of De Luxe and its General Packaging subsidiary to our company."
"After building De Luxe over several decades, it was important to our family to find a partner that could help take De Luxe to the next level of growth and success,” says Groupe De Luxe president Richard Goulet. “We feel that we have found a perfect fit for De Luxe with Packaging Dynamics. We believe that Packaging Dynamics has the resources and commitment necessary to support the De Luxe growth strategy which is based on our long-standing philosophy of delivering highly responsive and innovative packaging solutions to our customers. I look forward to our new association with Packaging Dynamics and the growth it will bring to our business."
A portfolio company of private investment firm Kohlberg & Co., Packaging Dynamics provides innovative solutions to customers in each of its three business units: BagcraftPapercon, International Converter and Thilmany Papers.
Source: Packaging Dynamics Corp., PRNewswire