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Manistique paper mill sold

MANISTIQUE — The UP Paper mill in Manistique has been sold to ProAmpac, according to a press release issued by ProAmpac Tuesday.

“The UP Paper team has done an incredible job building this great business. We look forward to building on their existing relationships and production expertise to serve our customer base with a broader suite of sustainable packaging products,” said Greg Tucker, founder, vice chairman and chief executive officer of ProAmpac.

Headquartered in Cincinnati, ProAmpac produces packaging solutions for a variety of products. The Manisitque mill produces 100% unbleached recycled kraft paper for packaging applications.

“ProAmpac has built an exceptional platform from which we can continue to grow our business,” said Lars Dannberg, president and CEO of UP Paper. “Together, we will have a strong portfolio of paper products and a shared commitment to excellence in customer service. I am confident our current and future customers will benefit from this partnership.”

According to the release, the acquisition will allow UP Paper and ProAmpac to “leverage combined fiber and film-based material science expertise to create environmentally friendly flexible packaging products.”

The terms of the sale were not disclosed by ProAmpac. ProAmpac is jointly owned by Pritzker Private Capital, along with management and other co-investors.

“UP Paper will expand ProAmpac’s portfolio of recycled paper packaging products and extend the company’s presence in growth-oriented end markets,” said Kaitlyn Desai, principal at Pritzker Private Capital. “We look forward to continuing our strong support of ProAmpac through both organic and acquisition growth.”

Prior to the acquisition announced Tuesday, UP Paper — which was formerly Manistique Papers — was owned by a group of entrepreneurs with ties to the Manistique area. The mill itself has been producing paper since 1920, but the UP Paper name and the focus on kraft paper began in 2016.

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