Dec 22 2010
Plastic Packaging Technologies, LLC (PPT), a leading manufacturer of flexible packaging, has been purchased by privately-held Mid Oaks Investments LLC, Buffalo Grove, IL for an undisclosed amount.
"Mid Oaks has enjoyed a successful 20-year investment track record in the food packaging industry. As a leading, vertically-integrated manufacturer of flexible packaging products for the food, pet food, specialty consumer and health care industries, PPT is an ideal addition to our portfolio," said Wayne Kocourek, chairman and chief executive officer (CEO), Mid Oaks.
PPT's current management team, led by David Staker, president and CEO and Dan Staker, executive vice president, will continue leading the business under Mid Oak's ownership.
"PPT prides itself on providing innovative, high quality products using the best technology available. With Mid Oaks as our new owners, we will have additional resources at our disposal to help PPT grow to the next level," said Staker.
PPT also is known for its superior printed and laminated substrates which are then converted into flexible packaging pouches with strong shelf presence. The company goes a step further by working with brand owners and private label customers to insure the packages also have the desired functionality.
"It's not enough just to produce an attractively-printed stand up pouch. You have to work with the customer to make sure you add the right functionality—sliders, spouts, tear-off scoring, etc.—which will support product growth and attract repeat purchases," Staker said.
The company's manufacturing capabilities include printing, solventless adhesive lamination, high-speed slitting, pouch making and converting. PPT employs approximately 200 people and operates state-of-the-art equipment in its Kansas City, Kansas and Columbus, Ohio production facilities totaling 175,000 sq. ft. of manufacturing space.
PPT was previously owned by Stonehenge Partners, Inc. and Tech Investments, LLC. The company was advised on the sale by Chicago-based investment bank, Blaige & Company.