Jadex offloads Lifoam to Altor Solutions for US$137M

USA – Jadex, a leading U.S.-based manufacturer and material sciences company, has finalized an agreement to sell its subsidiary, Lifoam Industries, for US$137 million in cash to Altor Solutions, a subsidiary of Compass Diversified.

Lifoam specializes in producing temperature-controlled packaging products, such as thermal shippers and refrigerant gel packs, catering to healthcare, commercial, and retail sectors.

In recent years, Lifoam has significantly expanded its footprint in the healthcare and food-related cold chain shipping markets.

One of its notable innovations is Bioffex, a polylactic acid-based bead foam that is commercially compostable in less than four weeks.

Jadex plans to utilize the proceeds from this divestiture to reduce debt and invest in its remaining business areas.

Mario D’Ovidio, CEO of Jadex, expressed pride in Lifoam’s growth and innovative achievements, particularly in eco-friendly, sustainable solutions.

He stated that Lifoam is well-positioned to thrive as part of Altor Solutions, which focuses on protective and cold chain packaging solutions.

Jadex operates 18 manufacturing facilities across the U.S., UK, and Puerto Rico, employing approximately 1,800 people.

The company continues to develop sustainable products for various sectors, including medical, industrial, and consumer markets.

Meyers acquires Johnson Printing and Packaging

In related news, Meyers, a long-time FTA member, has acquired the 103-year-old Johnson Printing and Packaging Corp (JPP) assets.

This acquisition, marking Meyers’ 75th anniversary, is a strategic move to expand its presence in the folding cartons sector, crucial for delivering sustainable packaging solutions.

Christopher Dillon, Meyers CEO, expressed excitement about integrating JPP’s clients into Meyers’ operations, highlighting the combined strengths in the food and beverage, life sciences, and health, beauty, and cosmetics sectors.

The acquisition reinforces Meyers’ commitment to sustainability and its ability to offer superior service by leveraging JPP’s resources and expertise. The transition will be seamless, ensuring uninterrupted service to both Meyers’ and JPP’s clients.

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