Tray-Pak acquisition points the way to growth
As a majority shareholder of Tray-Pak, TPC Partners has pledged to continue the company’s packaging development programme. Its newly-appointed chief executive officer, Scott Myers told FoodProductionDaily.com: “We are absolutely committed to product development in the thermoforming industry. Our goal is to drive value and grow with our customers.”
Commenting on the company’s business strategy Myers said: “Tray-Pak’s packaging and custom thermoforming are applications. We use sustainable materials and utilize our design skills, engineering and automation expertise to present the customer’s product in a safe, high-quality, cost- effective package that meets both customer and consumers needs.”
In addition to serving the confectionery, bakery, and food sectors, the company also produces packages for the medical, electronics and consumer products industries.
Plastic packaging
John McGlinn, a partner of TPC Partners, added: "Tray-Pak is a respected part of the Reading business community and a first-class innovator in the plastic packaging sector. The company has a long record of providing high-quality products and services to its customers and we look forward to building upon that strong record of success."
Tray-Pak, based in Reading, Pennsylvania, supplies customers throughout the US and employs 275 people.
Established in 1975 as a thermoformer of plastic cookie and candy trays, Tray-Pak now supplies a wide range of thermoformed packaging. “Today we specialize in medium-to-high volume runs (25,000 to 50-million+) of consumable goods packaging. Our customers include many Fortune 500 companies, with a wide range of industries, packaging needs, and locations throughout the world,” according to a statement on the company’s website.
Partnership
Myers joins the organization from WinCup; a manufacturer of disposable cups, bowls, containers and lids. "I am very excited to have the opportunity to work with the dedicated and talented employees at Tray-Pak as we build upon the company's strong record of achievement. We have a great partner with TPC Partners and we look forward to executing on the opportunities this partnership brings to our company," said Myers.
TPC Partners is an affiliate of Archbrook Capital Management.
