Specialized Packaging Group Completes Acquisition of Pacific Pulp Molding, Inc.

SPG Expands Capabilities and Reach in ProtecPac Division With Addition of West Coast Molded Pulp Product Manufacturer

SAN DIEGO, Oct. 5, 2022 /PRNewswire/ -- Specialized Packaging Group (SPG), a leading, vertically integrated provider of protective packaging products, announced today that the company has acquired San Diego, California-based Pacific Pulp Molding, Inc. (Pacific Pulp). Pacific Pulp is a leading manufacturer of molded pulp and molded fiber products ? packaging made from recycled material, such as paperboard or newsprint ? for applications across a diverse array of end markets and a nationwide customer base.

SPG, one of the largest independent protective packaging manufacturers in North America, is a portfolio company of Altamont Capital Partners. The acquisition will enhance SPG's existing capability set in its ProtecPac division, expanding the company's product offerings and geographic reach while adding approximately 50 employees to its 1,600-person workforce. Pacific Pulp leadership and the company's full workforce will continue to operate in their current locations in San Diego and Tijuana, Mexico.

"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. Pacific Pulp has been the go-to provider of molded pulp solutions for almost 30 years," said SPG CEO Paul Budsworth. "We are excited to strengthen our presence in the growing sustainable packaging market, allowing us to better serve our customers. 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."

"Over the last several years, Pacific Pulp has grown by focusing on highly engineered molded pulp and molded fiber solutions geared towards adding more sustainable packaging products to our customers' global supply chains," said Pacific Pulp President John McNeil. "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."

Specialized Packaging Group, Inc. is a vertically integrated provider of protective packaging products and one of the largest independent manufacturers of protective packaging in North America. The company operates under three divisions: ProtecPac, IVEX, and Packaging Concepts & Design (PC&D). ProtecPac designs and manufactures customized packaging solutions at ten facilities in the U.S. and Mexico, IVEX manufactures a range of packaging materials at six facilities across the U.S., Canada and Mexico, and PC&D is a leader in the design and delivery of highly engineered packaging products and solutions. For more information, visit https://spg-ges.com/.

Pacific Pulp Molding, Inc. is a leader in the design and manufacturing of highly engineered molded pulp and molded fiber packaging products and solutions. Founded in 1998, Pacific Pulp provides molded fiber and molded pulp packaging to companies located throughout North America. Its innovative approach to packaging provides customers with a sustainable, biodegradable solution throughout their supply chains. For more information, visit http://pacificpulp.com/

Altamont Capital Partners is a private investment firm based in the San Francisco Bay Area with more than $4.5 billion of assets under management. Altamont is focused on investing in middle market businesses where it can partner with leading management teams to help its portfolio companies reach their full potential. The firm's principals have significant experience building business success stories across a range of industries, including consumer, restaurants and multi-unit, financial services, healthcare, industrials, and business services. For more information, visit www.altamontcapital.com.

SOURCE Specialized Packaging Group