Deerfield, Illinois -- Packaging supplier Pregis Corp. has acquired IntelliPack Inc., a producer of foam-in-place (FIP) packaging technology based in Tulsa, Oklahoma.
The acquisition will become part of Pregis' protective packing division in Deerfield, Michigan, a 3 March Pregis statement said. IntelliPack's 38 employees will join Pregis 4000-member staff. Based on 2009 figures, the combined companies recorded over $900 million revenue.
"We believe that this transaction will benefit our mutual customers across all segments and channels," said Pregis president, Kevin Baudhin, in a company statement. "This acquisition will allow us to accelerate the next generation of FIP product development and provide customers the best quality, service and equipment model in the industry," Baudhin added.
"Our expertise in FIP technology, coupled with Pregis' people, national footprint and channel-to-market will create an environment for an even higher level of innovation and customer service," Todd Hanna, who served as IntelliPack's president and will now become vice president and general manager of Pregis' FIP systems, said in the statement said.
Pregis' FIP products are used in markets including furniture, housewares, electronics, automotive and industrial. (RD)