C-P Flexible Packaging Announces Acquisition of Bass Flexible Packaging, Inc. and Expands in High Growth Confectionary and Health & Beauty Markets
Today, we announced 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.”