November 3, 2015 Updated 11/3/2015
When the owners of Prolamina Corp. acquired Ampac Holdings LLC this summer, they signaled a new name for the combined flexible packaging company would emerge in time.
Well, that time is now. And the new name is a nod to both halves of the merger.
“The ProAmpac name allows us to clearly reinforce our commitment to the flexible packaging industry while building on the momentum that our two merged companies provide,” said CEO Greg Tucker in a statement. “We can leverage the strengths of all our brand divisions, as well as our skilled teammates, for a greater global impact.”
The newly merged company includes four divisions, Prolamina, Ampac, Tulsack and Business Deposits Plus, the company said.
Wellspring Capital Management, a private investment firm based in New York, first acquired Prolamina about five years ago and purchased Ampac this summer. Ampac brought 13 locations to the deal while Prolamina added three.
Prolamina had locations in Neenah, Wis.; Westfield, Mass., and Terrebonne, Quebec, a suburb of Montreal.
The Terrebonne site, the company said when announcing the name change Nov. 3, “will transition to the Ampac division, as its product offerings align with the adhesive laminated rollstock and pouching served by Ampac.”
Ampac, according to its website when the deal was announced, had the bulk of its operations in the United States, including sites in Auburn, Wash.; Minneapolis,; Cary and Hanover Park, Ill.; Tulsa, Okla.; Mobile, Ala.; Walden, N.Y.; and its headquarters in Cincinnati. Other sites were in Melbourn, England; Kirchberg, Switzerland; Eberdingen, Germany; Ho Chi Minh City, Vietnam; and Chantrea District, Cambodia.
Tulsack, of Tulsa, Okla., makes paper handle shopping bags. Business Deposits Plus, of Brecksville, Ohio, describes itself as a provider of bank supplies and cash management solutions, including deposit tickets, stamps, plastic deposit bags and business checks.
Along with Wellspring, certain management team members and investment firm Alvarez & Marsal Capital Partners also invested in the combined business, Wellspring previously said.