Astara buys flexible packaging operations of Garlock

Astara Capital Partners has announced the acquisition of the flexible packaging operations of Garlock Printing & Converting for an undisclosed sum.

Established in 1987, Garlock offers an array of films – including high barrier laminates and easy open sealant and breathable films – for a variety of food and beverage applications such as coffee and tea, condiments, dairy, meat and snacks.

The US company offers printing, pouch making and coating capabilities and will mark Astara’s first platform investment since it formed in June 2020.

Following the acquisition, Garlock will continue to be managed by its current team and led by its founder and CEO Pete Garlock. Astara says the transaction will allow Garlock to focus on its core flexible packaging business.

To develop Garlock’s value creation plan, Astra says it has worked with a group of flexible packaging executives who have previously worked at firms such as Amcor, Mondelēz, Printpack and Transcendia.

“We are honoured that these executives collaborated with Astara on this opportunity and are excited that they will continue working with Garlock in the years to come,” said Rob Groberg, partner at Astara. “Their assistance exemplifies Astara’s approach of bringing functional, strategic, and operational resources to companies in order to build sustainable value.”

Pete Garlock, CEO of Garlock Printing & Converting, added: “This partnership with Astara is an exciting chapter in our 34-year history. It will allow us to focus exclusively on flexible packaging, where we are growing substantially and emerging as a leader in the use of sustainable films. 

“Our commercial and technical team, led by Mike Dennis, is actively partnering with customers and film suppliers to bring recyclable films to the North American packaging market. These capabilities, coupled with our modern production assets, position Garlock for a bright future.”