Flexpak has completed the acquisition of Preferred Packaging Products, Inc. (“Preferred” or the “Company”) on February 1, 2023. Preferred is a distributor of corrugated, custom foam, poly bags, wood crating, bubble, stretch wrap, tapes and labels. The Company is based in Thornton, Colorado, where it has been serving customers since 1985. Preferred specializes in custom packaging for high value products, and supports customers across diverse end markets including electronics, instrumentation, consumer products and healthcare. The combination of Flexpak and Preferred creates a premier regional platform serving Utah, Colorado, Arizona and Idaho.
“We are delighted to welcome Bob Abbott and the Preferred team into the Flexpak family. Preferred and Flexpak share similar cultures and take great pride in providing superior customer service and customized packaging solutions to our customers. We look forward to continued growth in Colorado and expanding the set of specialized capabilities offered to Preferred’s customers,” said Flexpak CEO Brian Kellen.
Bob Abbott, President of Preferred, added, “We are excited to join forces with Flexpak and Shorehill. They have a unique partnership that I found compelling. Their emphasis on culture, growth and partnership will benefit our customers, suppliers and employees.”
Flexpak’s acquisition of Preferred is consistent with its strategy to expand its geographic presence throughout the Mountain West region of the United States. The combination of Flexpak and Preferred immediately creates a leading packaging solutions provider with a high-quality sales team and expertise across a variety of end-markets. “We are excited to partner with the Preferred Packaging team to expand Flexpak into Colorado. Preferred is an impressive company with deep expertise in packaging design and customized solutions. Going forward, the combined company is well-positioned to continue to expand its capabilities and geographic presence through acquisitions and organic growth,” said Charlie Denison, Managing Director at Shorehill Capital. Flexpak and Shorehill partnered in 2021. Preferred Packaging represents the partnership’s second acquisition, having acquired ACE Packaging of AZ in July 2022.
The Shorehill team has been active in the packaging industry over the last two decades, having invested over $300 million in equity across twenty-one acquisitions. The team’s experience includes packaging distribution and manufacturing across a wide variety of substrates.
