ACON Investments Acquires Novipax

Colorcon Acquires Airnov Healthcare Packaging from Arsenal Capital Partners

March 2, 2023

Manufacturing

Colorcon, Inc. completed the acquisition of Airnov Healthcare Packaging from private equity firm Arsenal Capital Partners; financial terms were not disclosed. Airnov is a global manufacturer of desiccant and oxygen‑barrier packaging solutions serving pharmaceutical, nutraceutical and diagnostic customers, with ~700 employees and manufacturing sites in the United States, France, China and India. Colorcon said Airnov’s capabilities complement its existing portfolio and will enhance technical, customer and regulatory support for customers.

Novolex Acquires Flexo Converters USA, Inc.

July 1, 2021

Packaging

Novolex, a portfolio company of The Carlyle Group, has acquired Flexo Converters USA, Inc., a family-owned manufacturer of stock, custom and recycled paper bags and sacks headquartered in Meriden, Connecticut, with an additional plant in Monroe, Georgia. Flexo's products will be sold under the Novolex Duro Bag brand and the acquisition adds production capacity to support rising demand from foodservice and grocery customers; eligible full‑time Flexo employees will join Novolex.

ProAmpac Acquires Gelpac from Investor Group Led by Namakor

March 13, 2024

Packaging

ProAmpac has signed a definitive agreement to acquire Gelpac from an investor group led by NAMAKOR Holdings, with Groupe W Investissements and CDPQ participating. The acquisition expands ProAmpac’s flexible-packaging capabilities and capacity across the United States and Canada, allowing the combined company to better serve food & beverage, agriculture, industrial and pharmaceutical end markets.

Vonco Products Acquires Flex-Pak Packaging Products

January 13, 2022

Manufacturing

Vonco Products LLC acquired Flex-Pak Packaging Products, Inc., a Batavia, Illinois-based specialist in flexible barrier packaging and sterile DuPont Tyvek pouches. The acquisition, which closed December 31, 2021, expands Vonco's contract manufacturing capabilities for healthcare and consumer markets by adding sterile barrier pouch expertise and complementary packaging services.

PPC Acquires NaturPak

January 6, 2026

Food & Beverage

PPC, a family investment firm based in Chicago, has acquired NaturPak, a Janesville, Wisconsin-based co-manufacturer of bone broths, soups, sauces, wet pet food and ingredient products. NaturPak's CEO Aaron Jackson will continue to lead the business as PPC supports growth through investments in R&D, product development, capability expansion and new packaging formats; terms were not disclosed.

Novolex Acquires Pactiv Evergreen Inc.

April 1, 2025

Packaging

Novolex has completed its combination with Pactiv Evergreen Inc. in a transaction valued at approximately $6.7 billion (including net debt), with Pactiv Evergreen shareholders receiving $18.00 per share and Pactiv Evergreen delisted from Nasdaq. The combined company will operate under the Novolex name, expanding manufacturing footprint, product breadth and R&D capabilities across food, beverage and specialty packaging markets.