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PE-backed C-P acquires Bass Flexible Packaging

C-P Flexible Packaging, a portfolio company of First Atlantic Capital, has acquired Lakeville, Minnesota-based Bass Flexible Packaging Inc, a provider of flexible packaging solutions.

C-P Flexible Packaging, a portfolio company of First Atlantic Capital, has acquired Lakeville, Minnesota-based Bass Flexible Packaging Inc, a provider of flexible packaging solutions. No financial terms were disclosed.

PRESS RELEASE

YORK, Pa.–(BUSINESS WIRE)–C-P Flexible Packaging (C-P), a leader in the flexible packaging industry, announces the acquisition of privately held Bass Flexible Packaging, Inc. (Bass). With the addition of Bass, C-P expands into the highly attractive confectionary and health & beauty markets and adds state of the art short run and short lead time capabilities. C-P is a long-standing portfolio company of First Atlantic Capital, a New York based private equity firm. Terms of the transaction were not disclosed.

Located in Lakeville, MN, Bass has developed a customer-centric service model supported by nimble assets and systems enabling the company to meet short lead times for a wide breadth of order quantities. Bass produces a variety of stand-up pouches, premade bags and shrink sleeves. This strategic investment complements C-P Flexible Packaging’s best-in-class converting capabilities. C-P Flexible Packaging’s North American footprint now consists of 11 locations with over 1,000 employees.

According to C-P Flexible Packaging CEO Mike Hoffman, “The Shaffers have developed one of the most agile service models in the industry at Bass, with precision focus on the market’s need for short lead times and run lengths. Combining this unique strength with their high-growth end markets complements C-P’s strategic initiatives in these areas. We are excited to welcome the Bass family to our team!”

“We are very proud of our team at Bass and the business that we’ve built,” said Andrew Shaffer, Co-Owner of Bass. “We believe our business is in excellent hands with C-P Flexible and that the combined resources of the two companies will only strengthen the opportunities for both employees and customers.“

“The acquisition of Bass adds to our already substantial position in the flexible packaging industry. Our goal from the beginning was to create a diverse manufacturer of high quality flexible packaging products used in a variety of markets throughout North America. With Bass and the other acquisitions completed in the past year we are successfully achieving that goal,” said Roberto Buaron, Chairman of First Atlantic Capital.

First Atlantic Capital Managing Director, Emilio S. Pedroni, added, “The Bass transaction represents another step towards building a North American leader in the flexible packaging industry with differentiated capabilities. We are excited about joining forces with Bass which will expand our ability to meet customer needs with increased product proliferation and shorter lead times in line with today’s market demand.”

To learn more about C-P Flexible Packaging’s expanded portfolio of flexible packaging products and capabilities, visit cpflexpack.com.

About C-P Flexible Packaging
Founded in 1958, C-P Flexible Packaging is one of the top 20 flexible packaging suppliers in the U.S. and supports the growth efforts of some of the world’s leading consumer packaged goods companies. Headquartered in York, PA., the company brings together a full portfolio of flexible packaging formats spanning HD printed rollstock, premade pouches, shrink sleeves, stretch sleeves, poly bags, roll-fed labels, reclose, cold-seal, cleanroom products, thermoformed trays and recyclable flexible packaging. For more information on C-P Flexible Packaging, visit www.cpflexpack.com.

About First Atlantic Capital
Founded in 1989, First Atlantic Capital is a middle market private equity firm that leverages its extensive consulting and operational experience to acquire middle market companies, seeking to build them up to become market leaders. Since its inception, the firm has completed over 70 acquisitions, assembling 22 successful platforms in various industries including plastics and packaging, food and beverage, consumer and industrial products and business services. Notable investments in the packaging industry include Berry Plastics, Ranpak, Captive Plastics, Resource Label Group and C-P Flexible Packaging. For additional information, visit www.firstatlanticcapital.com.