Trioworld Group has signed an agreement to acquire the Canadian based Malpack Ltd. and US based Malpack Corp. (collectively, Malpack), a leading player in solutions for high-performance stretch film in the transit packaging segment. Malpack supports customers in the areas of distribution, beverage, food, consumer goods, e-commerce, and other industrial packaging.
Trioworld is very pleased to welcome Malpack to the Trioworld group. As a North American leader in high-performance stretch film, Malpack has grown impressively over the past years. Based on a superior product portfolio consisting of innovative stretch films and a superior service level, Malpack now serves customer from coast to coast in US and Canada. The company is well-invested, and management is focused on strengthening their offering with circular solutions which is in line with Trioworld’s ambition to be the circular leader in the load security and transit packaging market.
“We are very excited to open a new chapter in the Malpack growth journey. We see Trioworld as a uniquely positioned strategic sponsor and partner that will help us to accelerate plans to take our North American business to the next level.” says Ricardo Cardoso, who will become Malpack’s CEO, and the new Trioworld North America Division President. “Malpack and Trioworld, are fully aligned on decarbonizing the industry by ambitiously developing and bringing circular solutions to the market. The ability to share our extensive experiences, innovations, and best practices across our combined entities will creating immense value for our customers and fast-track product development and sustainability driven initiatives.” Ricardo Cardoso continues.
“With our joint forces, we have now established a strong foothold in the Canadian and US markets and will continue to ambitiously develop our joint offering with focus on sustainable high-performance solutions for load security, and midterm also other product categories from the Trioworld extensive product portfolio”, says Andreas Malmberg, CEO of Trioworld Group.
Tony Galea, President & CEO of Malpack is excited to see Malpack and the Trioworld group combine forces to accelerate innovation in North America. “Over the years, Malpack has created very strong brand recognition as a result of our efforts to advance the development of ultra-high-performance films. With Trioworld’s support, Malpack will truly be positioned as a market leader in film technology and in sustainability driven solutions. “
Manny Di Pietro, Secretary/Treasurer & CEO of Malpack also underlines the support for the continued journey of Malpack. “We are very proud of the legacy that we have created through our continued investment in people, processes, and technology in the almost 50 years of doing business. We believe that Trioworld is strongly aligned on core values and will give Malpack the best opportunity for continued growth over the coming years.”
For more information, please contact:
Andreas Malmberg, CEO of Trioworld Group, +46 70 2087291Ricardo Cardoso, COO of Malpack, +1 (647) 291-5389Helena Hed, Director Communications, Trioworld Group, +46 70 643 7975
About MalpackMalpack is based in Ajax, Canada and has a legacy dating back to its origins in 1972 as a polybag manufacturer. It started production of plastic films in 1997 and is a leading producer and supplier of premium load security solutions based on High Performance stretch film to customers within distribution, beverage, food, consumer goods, e-commerce, and other industrial packaging. The company has a strong market position in US and Canada. Turnover of Malpack is 240 MEUR with a total of +260 employees. Head office and production is in Ajax, Ontario, Canada, with distribution centers located across North America.
About the Trioworld Group Trioworld was founded in 1965 and since 2018 in the ownership of Altor Fund IV. Altor is one of the leading Nordic Private Equity firms, focused on building world class companies. Driven by continuous development of innovative, high-performance, and sustainable plastic film products, Trioworld is one of the leaders in the segment, with a turnover of 850 million EUR and approximately 1.550 employees, before the acquisition of Malpack. The group´s head office is in Smålandsstenar, Sweden. Production is in Sweden, Denmark, the Netherlands, UK and France and the products are sold on the global market.