Warburg Pincus, a leading global private equity firm focused on growth investing, has agreed to acquire Pregis LLC, a leading protective packaging materials and automated systems manufacturer, from Olympus Partners, headquartered in Stamford, Connecticut, for an undisclosed amount. Pregis' current management team, led by Kevin Baudhuin, president and chief executive officer, will continue under Warburg Pincus' ownership. "We are pleased to partner with Warburg Pincus to continue our strong growth that has been attained through customer-focused innovation, market development and investments. Backed by their extensive network of knowledgeable resources and global perspectives, we are confident that Warburg Pincus will further accelerate our future growth," said Kevin Baudhuin, president and chief executive officer, Pregis. "We also want to sincerely thank Olympus for their partnership and support, which have been key to our success over the past five years." Click Read More below for additional information.
DS Smith, a leading international sustainable packaging company, has today released new research which finds that 1.5 million tonnes of plastic could be replaced each year from just five areas within supermarkets across Europe.
Its report, ‘Transforming the Supermarket Aisle’, was developed in conjunction with White Space, the leading growth strategy consultancy. It identifies plastic packaging, such as fresh produce punnets and shrink wrap, which supermarkets can replace with alternative, renewable materials. The five categories identified account for over 70 billion individual units of plastic (over 1.5 million tonnes) per year and are highlighted as targets for reduction and replacement by the packaging company.
Miles Roberts, CEO of DS Smith commented: It is clear that we all have a big job to do, but we can already see through our research some of the potential answers. Our research demonstrates that simple changes in the materials used could make a big difference for retailers, thereby reducing plastic use by millions of tonnes over the next decade. While there is no silver bullet, we know that sustainable fibre-based packaging has a huge role to play, appealing to our customers and consumers alike.
Paper and cardboard has an 85 per cent rate of recycling across Europe and brings additional benefits for brands like digital printing and customisation. DS Smith has identified the following areas for innovation or substitution in retail:
1. Plastic display trays: Often overlooked as shoppers don’t take them home, plastic trays on supermarket shelves have fibre alternatives and could be eliminated from the shelves.
2. Fresh produce punnets: Plastic punnets are commonly used to package fresh produce across Europe and there is a significant opportunity for replacement.
3. Shrink wrap: Nearly all soft drinks units are shrink wrapped at one stage of their life. As manufacturers consider non-plastic alternatives, corrugate and glue solutions were seen by our panel as ‘next generation’.
4. Ready meals: Packaging needs are more complex in the ready-meal category, but change is on its way as corrugate alternatives are introduced following further innovation.
5. Meat, fish and cheese: This segment represents a significant opportunity for innovation and replacement, with fibre-based alternatives well positioned.
There is a strong approval rate for cardboard among consumers at 55 per cent, compared to plastics at 7 per cent and polystyrene at 1 per cent in Europe. Meanwhile, with 85 per cent of European consumers willing to pay a 12 per cent premium for sustainably packaged goods, only a third (36 per cent) of Europeans believe brands and retailers are doing enough to introduce more sustainable packaging.
more at: https://www.dssmith.com/company/newsroom/2019/5/ds-smith-sets-its-sights-on-removable-plastic