Packsize announced plans to acquire Panotec’s packaging business. Under the agreement, Packsize will grow its machine portfolio while expanding its combined installed customer base in over 50 countries throughout North America, Europe, and beyond.
“This acquisition further aligns our go-to-market approach and strengthens our ability to offer more flexibility and choice to businesses looking to optimize packaging operations while reducing waste and cost,” says Brian Reinhart, chief revenue officer, Packsize. “Just as importantly, it brings together teams that share a similar innovative vision for the future of right- sized packaging, making us better positioned to accelerate growth and deliver even greater value globally.”
Key takeaways:
· Panotec manufactures high- and low-automation, right-sized packaging machines.
· This acquisition comes on the heels of Packsize’s acquisition of Sparck Technologies, which combined Packsize’s technology and service model with Sparck’s fit-to-size box systems and best-in-class box-last, and lid-and-tray solutions.
“We look forward to leveraging the combined strengths of our companies to provide an unparalleled product selection and service to the markets we serve,” says Carlo Capoia, VP of Panotec.
