Flexible packaging and specialty paper manufacturer Packaging Dynamics Corporation has announced the acquisition of Groupe De Luxe.
Headquartered at its Montreal manufacturing base, with facilities in Toronto, Chicago and Saugerties, New York, De Luxe is 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," commented Roger Prevot, CEO of Packaging Dynamics. "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.”
"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,” said Richard Goulet, president of Groupe De Luxe. “We feel that we have found a perfect fit for De Luxe with Packaging Dynamics."
Packaging Dynamics is a portfolio company of private investment firm Kohlberg & Company, with three business units—BagcraftPapercon, International Converter, and Thilmany Papers.
