Jan 23, 2023
by: Rafaela Sousa, FoodBev Media
Summit Plastics, a US custom packaging manufacturer, has announced the acquisition of Fredman Bag Company.
Founded in 1889, Fredman specialises in custom flexible packaging, serving the food and beverage, medical, agricultural, industrial and retail markets. The company operates a 50,000-square-foot facility with printing and converting capabilities.
With the deal, Summit aims to expand its geographical presence and product portfolio.
Tom Nathanson, chairman of the company’s board, said: “This transaction further expands our market reach and adds to our product capabilities. We welcome the talented employee base at Fredman and look forward to their contributions to the combined business.”
The deal follows Summit’s investment in another custom flexible packaging producer, ClearView Packaging, in 2021.
Tim Fredman, president of Fredman Bag, added: “Partnering with Summit and ClearView will enhance our ability to support our employees, customers and suppliers. We have known and respected the ClearView family for decades, and our employees are excited for the growth and opportunity as part of a larger platform.”
Terms of the transaction were not disclosed.
