Tredegar Corporation announced that it has completed the previously announced sale of its personal care films (“Personal Care Films”) business to affiliates of Fitesa S.A. Commenting on the sale, John Steitz, Tredegar’s president and chief executive officer said, “We believe that in combination with Fitesa, a worldwide leader in nonwoven fabrics, Tredegar’s former personal care business will have improved opportunities for growth.” Cash proceeds from the sale net of transaction costs, purchase price adjustments and transition services are estimated at $45 to $50 million. Net cash income tax costs or benefits relating to the transaction are expected to be negligible. The transaction excludes the packaging film lines and related operations located at the Pottsville, Pennsylvania manufacturing site (“Pottsville Packaging”), which will now be reported within the Surface Protection component of PE Films.
A ‘Shark Tank’ success story, Pipcorn mini-popcorn sees runaway sales with assistance from a POP display converted using direct-to-corrugated color printing technology.
When brother-sister team Jeff and Jen Martin founded their company in 2012, they had no idea they were about to embark on a wild success story with Pipcorn, their innovative mini-popcorn product. Not only is the product unique in terms of its small size—the popped morsels are about half as large as traditional popcorn—but it is also all-natural, gluten-free, whole grain, and vegan. However, despite the fact that the product hit on all the right consumer trends, it’s no easy feat for a newcomer to break into the crowded snack space.
Pipcorn’s first break came in 2013, when Jeff and Jen were offered the opportunity to feature Pipcorn at the Smorgasburg Snack Bar in Whole Foods Market’s Bowery location in New York City. To maximize the opportunity, they realized it would be best to “make their own shelf space”—to get their bags into boxes that could be displayed on the floor, rather than on the shelf. With no immediate solution at hand, the Whole Foods offer was an ideal opportunity with a less-than-ideal expense and time crunch.