CONCORD TOWNSHIP, Ohio & VENLO, Netherlands– Ranpak Holdings Corp. (“Ranpak”) (NYSE: PACK), a global leader of environmentally sustainable, paper-based packaging solutions for e-commerce and industrial supply chains, announced today the acquisition of Recycold Cool Solutions BV (“Recycold”), a manufacturer of sustainable cool packs. Unlike typical cool packs, Recycold Cool Packs are made from a drain safe, plant-based gel and their addition expands the diversity of Ranpak’s Cold Chain packaging solutions.
“We are thrilled to add Recycold and its Recycold Cool Packs products to our portfolio of sustainable Cold Chain packaging solutions at Ranpak. Recycold will immediately bolster our position as a highly effective thermal solution provider in the marketplace,” said Omar Asali, Chairman and Chief Executive Officer at Ranpak. “This acquisition reflects our focus on growth-oriented new products and our shared vision on eco-friendly solutions that express the values with which we operate Ranpak’s business worldwide.” Asali continued, “We have received great feedback from customers about Recycold Cool Packs. Ranpak will be scaling up Recycold’s business. Recycold products are already sold in 14 European countries and we look forward to leading further worldwide expansions in the future. Ranpak will also be integrating Recycold’s innovative manufacturing operations into the new Ranpak Netherlands facility, expected to open by the end of 2022.”
“Recycold and Ranpak have been collaborating for several years now and I am so pleased that, under Omar’s leadership, Ranpak can take our business to greater levels,” said Ruud Titulaer, Co-Founder and Managing Director, Recycold. “Our companies share common values for a more sustainable world, and the combination of Recycold and Ranpak products will provide an unmatched unboxing experience. We are so pleased to be part of the Ranpak family, with the ability to further integrate our offerings for a more streamlined thermal protection solution for our customers, and to collaborate even more closely on future product developments.”
