A young company has caught the eye of packaging giant Amcor. The Swiss-based packaging manufacturer, which employs 47,000 people in more than 40 countries, says it has invested between $10 million and $15 million in ePac Flexible Packaging.
u.S.-based ePac Flexible Packaging was conceived to produce digitally printed flexible packaging, with the three founders - Jack Knott, Carl Joachim and Virag Patel - believing that digital printing technology would revolutionize the flexible packaging industry.
With 18 operational sites in the United Kingdom, United States, Canada and Indonesia and five more currently under construction, ePac, established in 2016, has revenues of approximately $100 million. Each ePac location integrates HP digital printing, prepress, lamination, bag manufacturing and sales services in the markets they serve.
"We are extremely proud of Amcor's innovation and R&D capabilities, but with our global scale and position, we are also uniquely positioned to complement our internal efforts with investments in complementary technologies and business models, said Amcor CEO Ron Delia. Our investment in ePac is the first investment in this type of company and it provides us with an excellent opportunity to learn from a high-growth start-up."
Amcor's executive vice president of strategic development, Ian Wilson added: "EPac is a truly entrepreneurial, technology-driven company and has proven its ability to grow rapidly in the flexible packaging market, doubling its revenue every year since its inception in 2016."
The investment includes a minority stake in ePac Holdings and the financing of one or more ePac sites.
