Cordovan Capital expands portfolio with acquisition of Ireland’s sole paper sack producer

IRELAND – Cordovan Capital has strengthened its investment portfolio by acquiring the Mayr Melnhof paper sack business in Bangor, Northern Ireland—Ireland’s only manufacturer of multiwall paper sacks.

For over 50 years, the Bangor-based company has been a key supplier of paper sack solutions to the agriculture, milk powder, animal feed, and milling markets across Ireland and the UK.

With growing demand for sustainable packaging solutions, this acquisition positions Cordovan Capital at the forefront of Ireland’s shift towards eco-friendly alternatives.

The demand for paper-based sacks in Ireland has been on the rise due to increasing regulations on single-use plastics and a broader shift towards sustainable packaging.

Industries such as dairy, agriculture, and animal feed are actively seeking biodegradable and recyclable alternatives to plastic sacks.

The Bangor facility’s ability to provide locally produced paper sacks ensures businesses in Ireland and the UK can reduce their reliance on imports while lowering their carbon footprint.

Stephen McClelland, Partner at Cordovan Capital, emphasized the significance of the deal, “We are thrilled to partner with John Fitzgerald and the entire Bangor team under the leadership of Declan McGrady, who have been pioneers in the paper sack industry.

“This acquisition aligns perfectly with our mission to invest in businesses that drive positive environmental impact. Together, we will accelerate innovation, expand market reach, and strengthen the company’s position as a leader in sustainable packaging.”

John Fitzgerald, who will take on the role of Executive Chairman, highlighted the Bangor business’s vital role in supporting sustainable packaging efforts, “As the only paper sack producer in Ireland, the Bangor business plays a critical role in supplying eco-friendly paper sacks to valued clients, reducing the reliance on difficult-to-recycle single-use plastics.”

He further added that the dedicated workforce and high-quality production standards have cemented Bangor’s reputation as a trusted supplier in the industry.

With this acquisition, Cordovan Capital is set to enhance local production capabilities, ensuring that Ireland remains competitive in the growing market for sustainable, paper-based packaging solutions.

The move also provides businesses in key sectors with a reliable, homegrown alternative to plastic sacks, reinforcing Ireland’s commitment to a circular economy.

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