On March 13, 2024, ProAmpac announced its acquisition of Gelpac, facilitated by an investor group led by NAMAKOR Holdings, Groupe W Investissements, and CDPQ. The deal aims to expand ProAmpac's capacity and diversify its product offerings in the flexible packaging sector across North America. This strategic move will enhance service in key markets like food, beverage, agriculture, industrial, and pharmaceuticals.

Gelpac, known for its high-performance paper and poly products, aligns with ProAmpac’s sustainability focus and will retain its operations in Quebec. The acquisition, expected to close soon, was not disclosed in terms of value.

ProAmpac, owned by Pritzker Private Capital and co-investors, operates globally, providing innovative packaging solutions. The merger is seen as a growth opportunity for both companies, emphasizing their commitment to customer-centric, sustainable products.

Legal advisement for the transaction came from Kirkland & Ellis L.L.P and McMillan L.L.P for ProAmpac, and Fasken Martineau DuMoulin L.L.P and Bradley L.L.P for Gelpac, with Mesirow acting as Gelpac’s exclusive sell-side advisor. The acquisition is pending customary approvals and closing conditions.