Specialized Packaging Group bolsters portfolio with acquisition of Pacific Pulp Molding
US – Protective packaging provider Specialized Packaging Group (SPG) has added Pacific Pulp Molding (Pacific Pulp) to its portfolio.
Based in San Diego, California, Pacific Pulp’s product portfolio includes packaging made from recycled material such as paperboard.
The company also supplies newsprint products for various end-market applications across the United States.
The addition of Pacific Pulp is intended to expand the capabilities of SPG’s ProtecPac division.
It will add to the company’s product offerings and geographic presence, as well as increase its workforce by around 50 people.
Following the acquisition, Pacific Pulp’s leadership and employees will continue to operate in their current locations in San Diego and Tijuana, Mexico. The financial terms of the transaction have not been disclosed.
SPG CEO Paul Budsworth said: “The addition of Pacific Pulp to our ProtecPac division means we will be adding world-class molded pulp and molded fiber capabilities to an operation that is already an industry leader.
“We are looking forward to bringing the Pacific Pulp team fully on board and integrating them into a footprint that extends across North America and provides high-quality products to a diverse customer base.”
Pacific Pulp President John McNeil said: “Over the last several years, Pacific Pulp has grown by focusing on highly engineered molded pulp and molded fibre solutions geared towards adding more sustainable packaging products to our customers’ global supply chains.
“With SPG, we have found a partner that shares our vision and has the resources to accelerate our growth plans in new and existing markets.
“The Pacific Pulp team is thrilled to join SPG, and we look forward to taking our combined business to the next level.”
The deal comes at a time when the U.S. molded fiber pulp cap market is expected to grow at a steady CAGR of 4.8% between 2022 and 2032, creating an absolute growth opportunity of US$ 171.1 million, reports future market insights.
The growth is fuelled by the rising adoption of molded fiber pulp across various industries and the growing demand for sustainable and eco-friendly packaging solutions.
In addition, manufacturers of fast-moving consumer goods have also concentrated on providing consumer-friendly, eco-friendly packaging solutions, thereby offering greater value and ensuring a higher level of customer satisfaction.
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