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Ampac Packaging Recapitalizes
Cincinnati, Ohio, USA, 07 July 2006 -- /PRNewswire/ -- Ampac Packaging LLC announced today that it entered an agreement with Prudential Capital Group, Chicago and Falcon Investment Advisors, Boston, to recapitalize the company for an undisclosed amount. The influx of new capital will enable Ampac Packaging to continue to grow in the flexible packaging sector.

John Baumann, president and chief executive officer (CEO) and other key management executives will retain ownership interest along with Prudential and Falcon. Baumann will remain as president and CEO.

Baumann commented, "This is an exciting time for all of us at Ampac. Our new investment partners will provide a wealth of business and financial expertise, as well as capital to pursue our five-year growth plan, including strategic packaging industry acquisitions in North America, Asia, and Europe."

"Our investment strategy has been to focus on middle-market companies with consistent growth stories and solid management teams," said Dianna Carr, vice president, Prudential Capital Group. "Ampac is a great fit -- it has done an excellent job of growing the company over the last several years."

The company previously had been capitalized by investment firms Key Principal Partners (KPP) and Pouschine Cook Capital Management.

Ampac Packaging is a diversified, international, flexible packaging company with 11 manufacturing centers in North America and Asia employing approximately 900 people with revenues in excess of USD 225 million annually. Over the past seven years, Ampac has completed eight acquisitions and opened three Asian manufacturing facilities in China and Vietnam.

Ampac is the leading manufacturer of innovative packaging solutions ranging from luxury shopping bags to tamper-evident, disposable security bags and from high performance plastics films to printed multilayer laminations and pouches for retail, food, medical, and security customers.

Source: Ampac Packaging LLC


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