Wellspring Capital Management acquires Paragon Films

Wellspring Capital Management LLC, a New York-based private equity firm, announced it has acquired Paragon Films, Inc. Financial terms of the transaction were not disclosed.

Apr 16th, 2019

Founded in 1988 and headquartered in Broken Arrow, OK, Paragon is a manufacturer of high performance stretch films for transit packaging distributors serving the food and beverage, consumer products, logistics, and industrials end markets, among others. Paragon manufacturers a variety of premium quality, 100% recyclable hand and machine stretch films that offer superior load containment and puncture resistance to packaging distributors and end users. Paragon’s proprietary formulations and culture of technical expertise have established the company as the leading high performance stretch film manufacturer in North America.

John Morningstar, a Managing Partner at Wellspring who leads the firm’s investment effort in the packaging sector, said, “Our partnership with Paragon represents an exciting opportunity to build on Wellspring’s track record in the packaging space. The Company has an impressive reputation as one of North America’s premier stretch film manufacturers by offering customers a superior product coupled with tangible cost savings. We are very excited to partner with the management team, led by Darin Tang, to support Paragon through its next phase of growth.”

Matthew Harrison, a Partner at Wellspring, commented, “There are strong tailwinds in the high performance stretch film industry and Paragon is exceptionally well positioned to capitalize on these trends. We look forward to partnering with the Paragon team to pursue a range of growth opportunities, including internal initiatives and select acquisitions.”

Darin Tang, CEO of Paragon, added, “We are very excited to partner with Wellspring given the firm’s history of building successful businesses, particularly in the packaging sector. We are extremely proud of what our management team has accomplished and look forward to working with Wellspring to build on Paragon’s historical success.”

McDermott Will & Emery LLP served as legal counsel to Wellspring in the transaction. Rothschild served as financial advisor to Paragon with respect to the transaction and Kirkland & Ellis LLP served as legal counsel.

Paragon Films Inc.

Kellogg Says Embracing E-Commerce Helped it Weather the Pandemic

Kellogg says its ecommerce investments over the past two years helped it respond quickly and seize opportunities when lockdowns related to COVID-19 sent online grocery sales to record levels.

RRD launched Care Kits for patients and to help healthcare companies adapt to industry changes and demonstrate their commitment to member and patient wellness.

Care Kits Supplement Telehealth for Medicare Patients and More

57% of Americans with chronic conditions delayed healthcare and experienced a gap in care due to COVID-19, per a recent study. Aetna and other companies are shipping kits with specially curated products to offer self-care or supplement telehealth visits.

Both the shampoo and the conditioner in this P&G line have tactile notching to help the visually impaired.

P&G Designs Packaging for the Visually Impaired

Tactile notching on PET bottles of Procter & Gamble’s bio:renew shampoos and conditioners goes a long way toward helping consumers with impaired vision differentiate one product from another.

The most important strategy to make packaging more sustainable is to reduce the amount of plastic.

Beverage Manufacturers Respond to Consumer Trends on Plastic Packaging

Plastic has become an issue for consumers, particularly related to plastic waste in the environment. This directly impacts the beverage industry, which is made up of 45% rigid plastic packaging, only 25% of which ends up being recycled in the US.

Octopi installed one of the first Innofill Can C models, designed by KHS for smaller beverage companies, with an integrated filler and seamer.

Co-pack/Co-man Bets on Beverage Market Transformation

Wisconsin-based beverage packer Octopi positions itself to address a rapidly changing beverage market, as well as a shift from bottles to cans, with two canning lines, the newest of which will produce up to 1,200 cans/min in seven sizes.

Check out The Cobot Spot from Universal Robots

Check out The Cobot Spot from Universal Robots

Looking for automation solutions for packaging and palletizing? This is your destination for all things cobot. Whether it’s webinars, video case studies or product information, you’ll find it all in this one spot.

Love Beauty and Planet launched 16-oz reusable aluminum bottles and 32.3-oz 100% rPET refill bottles for two formulas of its shampoo and conditioner at Target in April 2021.

Love Beauty and Planet Debuts Reusable Aluminum Bottle

Unilever hair and skincare brand Love Beauty and Planet is the first major beauty brand to launch a reusable aluminum bottle for shampoo and conditioner for mass market.

The Steeped Coffee Method requires only hot water to prepare a single serving of coffee.

Tea Bag-Style Coffee Pack is ‘Steeped’ in Sustainability

Premium coffee producer Mr. Espresso enters the single-serve market with a tea bag-style product from Steeped that uses plant-based, compostable materials for the bag and outer film sachet.

Dr. R. Andrew Hurley

Taking the Fifth (Panel): Create an Invitation to Engage

Using a fifth-panel carton allows for more space to educate consumers on your product and provides an interactive, sensory experience that can send a powerful message about your brand.

Matt 6:11 Pw Title

Cybersecurity Risks Mount While Bag-in-Box Gives Brewers “Cider Security”

In this two-part Take Five, we first take a look at mounting risks around cybersecurity, then switch gears to look at a rising bag-in-box trend among intentionally flat beers and ciders.

Ball Aluminum Cup™ Expands Rollout to Retailers in 50 States

Ball Aluminum Cup™ Expands Rollout to Retailers in 50 States

After debuting the first-of-its-kind aluminum cup at major sports and entertainment venues, Ball recently expanded availability of the 100% recyclable product nationwide.

Check out The Cobot Spot from Universal Robots

Check out The Cobot Spot from Universal Robots

Looking for automation solutions for packaging and palletizing? This is your destination for all things cobot. Whether it’s webinars, video case studies or product information, you’ll find it all in this one spot.

unPACKED with Packaging World Podcast: 10 Billion Reasons to Embrace Reusable Packaging

Listen to the unPACKed with Packaging World podcast as Anne Marie Mohan outlines emerging frameworks to make implementing reusable packaging easier for OEMs, CPGs and consumers.

PepsiCo develops ecommerce-only packages, such as this Doritos 3D variety pack, for some products.

PepsiCo's E-commerce Investments Pay Off in Wake of COVID-19

PepsiCo’s head of global ecommerce shares how its earlier investments in ecommerce helped the CPG giant handle a surge in orders across online channels as consumers shifted to online shopping because of the pandemic.

Getty Images 1129642246

Beverage Suppliers Facing Post-COVID Challenges and Opportunities

Consumer demand is pushing SKU expansion and innovative new product opportunities for beverage manufacturers, but supply chain disruption has also created challenges.

At MWC, Fanuc robots are used to place the packaged 40-lb blocks of cheese onto pallets before they go through a stretch wrapper and are taken to the warehouse.

MWC’s Robot Configurations Provide Flexibility

Robotics come into play in the cheesemaker's palletizing operations. But for the most part, that level of complexity isn't needed in a facility producing such consistent product types and sizes. What's needed more is simplified automation.

There are some common challenges when launching a new food or beverage product.

Accelerating Speed to Market for New Food and Beverage Product Ideas

There are some common challenges when moving a new food or beverage product from idea to reality, and some considerations such as packaging and sustainability that are an integral part of the process.

Branding Lessons from Vital Farms’ Fantastic Egg Carton

Packaging is your product’s greatest salesperson. On today's Take Five video, see how ethical food company Vital Farms uses attention-grabbing graphics, sustainable packaging materials, and clever consumer communication tools to elevate its egg packaging.

Schematic for a iPhone starter kit, as imagined by middle schoolers and presented to a packaging professional from Apple.

Middle Schoolers Take on Big Brand Packaging Projects

Challenged to invent packaging systems for the likes of Apple and Ford, these middle schoolers impressed both in the pack designs themselves, and their ability to communicate their reasoning.

Most beverage sales are coming from Asia Pacific, North America, and Western Europe.

Beverage Trends Driving Change in 2021

Changing consumer demands mean beverage manufacturers have to adjust their offerings to satisfy the desire for functional, healthy beverages, while also offering sustainable or convenience packaging.

More in Home

The Honey Almond bar hits shelves in a paper-based flow wrap packaged on Syntegon’s HRM horizontal form-fill-seal machine.

Mars Wrigley Develops, Tests Paper-based Packaging for Balisto Chocolate Bar

As brands eye fast-approaching, self-imposed sustainability deadlines, watch for interesting pilot projects to roll out. This European paper-based flow pack from Mars Wrigley's Balisto brand of snacks was developed with Syntegon.

Budweiser’s three new limited-edition cans celebrate American freedom, featuring a red, white, and blue design emblazoned with stars and stripes.

Budweiser Busts out Patriotic Cans for ‘Historic Summer’

Beer giant kicks off the summer season with three limited-edition can designs that celebrate American freedom, with a portion of sales being donated to non-profit Folds of Honor.

The Massman Automation compact cheese block case packer packages 40-lb. blocks in protective cases for safe shipment and handling.

New Case Packer, Robotic Palletizer, Let Wisconsin Cheesemaker Efficiently Offer Multiple Output Options

With a new automated case packer and palletizer, Wisconsin Whey Protein’s cheesemaking operation can now offer its customers bulk cheese in barrels or in blocks.

Getty Images 1194791465

Is Your Supply Chain a Key Part of Your Brand Sustainability Plan?

According to speakers at Natural Products Expo West, one of the most powerful tools a company has to reduce their climate impact is to engage their supply chain.

The new lid has a snap feature that holds it tightly in place because a robotic arm grabs the tubs by the lid at the vaccine filling plant.

Rapid-Response Packaging Development Aids Distribution of COVID-19 Vaccines and Test Kits

Trays, inserts, tubs, and lids were developed in mere days, compared to the traditional weeks or months. The companies had to navigate shortages in resin supply due to COVID-19 and Texas storms.

Pharma Packaging Spotlight: Mechanical Testing for Passive Thermal Coolers

In this Take Five report on ISTA’s TempPack, Healthcare Packaging editor Keren Sookne discusses damage and acceptance criteria guidance, payload selection, actual product versus placebo, testing multiple product configurations, and more.

Beginning in June, Beiersdorf’s Nivea Naturally Good face care product range will be on the shelves in about 30 countries around the world in packaging made from this renewable polypropylene.

New Nivea Jars are Made from Bio-based Forestry Byproduct

Beiersdorf debuts polypropylene jars for its Nivea face cream that are made from tall oil—a byproduct of the forestry industry—to create petroleum-free, certified renewable plastic packaging.

The electron beam coating and laminating system is one of several strategic investments in machines, methods, and materials that AccuFlex opted for as a way of scoring sustainable packaging points.

Digital Printing, E-beam Coating, and More

Now nearing the end of its first year in business, AccuFlex is leveraging digital printing, e-beam coating, Color-Logic software, and both films and zippers that are compostable

Jason Blake, Chief Sustainability Officer for PepsiCo Beverages North America

PepsiCo’s Jason Blake Drives Sustainability Agenda

Jason Blake, Chief Sustainability Officer for PepsiCo Beverages North America, shares how the company is incorporating sustainability in every area, with a focus on innovations in packaging that will help the company reach its carbon reduction goals.

IoPP Announces Winners of the 2021 Packaging Education Scholarship Fund

Each year, the Institute of Packaging Professionals (IoPP) awards over $10,000 in scholarships to students studying packaging or a related field.

E-comm Brands Adopt Durable Bottles with Subscription-Based Refill Format

In effort to improve sustainability profiles and avoid the no-no of ‘shipping water,’ many new D2C brands are adopting a durable pack starter kit format that is then replenished by light or concentrated replenishment. Learn more in this Take Five video.

On the Rocks Product Line

Business is Booming for On the Rocks Ready-to-Drink Cocktail Brand

Spirits-based is one of the fastest growing segments of the US ready-to-drink market, and the OTR premium RTD brand doubled its sales in the first half of 2020.