Ampac acquires retort pouch packager

Floeter is a supplier to multinational global food and pet food processors, specializing in stand-up pouch converting and is known for its retort pouch-making capability. The terms of the transaction were not disclosed. The acquisition is one of the many consolidation deals occurring in the packaging sector, as companies attempt to follow their multinational clients as they expand into new regions or segments of the market. The Floeter acquisition includes two manufacturing plants in Germany, one in New Delhi, India, and one in the Chicago, the US. Floeter and its employees will become part of the Ampac's flexibles division, said John Baumann, president and chief executive officer of Ampac. "This is a remarkable combination of organisations, technology and capabilities,"​ he stated. "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."​ Marc Rapp, Floeter's founder, will continue to lead the company as a standalone division. "Our respective customers will now be able to benefit from shared technology and manufacturing expertise," he stated. In the '90s, Floeter is credited with anticipating the worldwide growth in pouch usage, by investing in leading edge equipment and proprietary pouch producing capabilities. Ampac Packaging, a flexible packaging company, is privately held, and is owned by senior executives together with equity backing from 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 about 1,300 people and has annual revenues of about $300m.