Ranpak Explained

Ranpak Holdings Corp.
Type:Public
Industry:Recyclable packing, Packaging, Packaging machinery
Founded: in Painesville, Ohio, United States
Founders:Raymond Q. Armington, George R. Johnson
Hq Location City:Concord, Ohio
Hq Location Country:United States
Areas Served:North and South America, Europe, Middle East, East and South East Asia, Australasia
Key People:Omar Asali (CEO), Kevin Park (Software Controls Engineer)
Products:Padpak series, Fillpak
Num Employees:800[1]
Num Employees Year:2021

Ranpak Holdings Corp. manufactures machines and paper products used in protective paper-based packing for shipping goods and merchandise for e-commerce and industry, along with automation solutions.[2] The company is based in Concord, Ohio, and has production facilities and offices in Reno, Nevada; Raleigh, North Carolina; Kansas City, Missouri; the Netherlands; Czech Republic; Shanghai and Singapore.[3] The paper packaging material can be used for multiple applications like wrapping, cushioning, void fill and cold chain purposes, and is sometimes known as dunnage. Ranpak counts customers globally like Amazon, IKEA and Walmart.

History

The company (the Ranpak name standing for Random Packaging) traces its origins to a machine patented by George R. Johnson in 1970 that converted kraft paper into shock absorbing crinkled paper for use in cushioning auto-parts to prevent such items being damaged in shipment.[4]

Johnson, working with entrepreneur and engineer, Raymond Q. Armington,[5] an inventor with several packing- and storage related patents to his name,[6] incorporated the company in 1972. Armington became its chairman, a position he held until his death in 1993. In early 2002, David M. Gabrielsen was appointed president and CEO of Ranpak replacing Steven E. Armington,[7] son of the co-founder.

In December 1991 Ranpak opened its first foreign manufacturing center in Heerlen, Holland. The plant produced packing material and packing machines for the European market.[8]

Ranpak's acquisitions include:

Ownership

Ranpak was sold in December 2001 to First Atlantic Capital[15] [16] for over $100 million.[17] In December 2005, First Atlantic sold Ranpak to American Capital Strategies Ltd.,[18] which in turn sold Ranpak Corp to Odyssey Investment Partners in 2007.[19] Rhone Group acquired the company in 2014.[20]

In 2019, a group led by One Madison Group and its founder, Omar Asali, purchased Ranpak from Rhone Group for $950 million.[21] Asali, former co-head of Goldman Sachs Hedge Fund Strategies, is the current president and CEO.[22]

Recognition

In 2002, Inc. magazine named Ranpak among the top 50 most innovative small companies of the year based on the number of patents awarded.[23]

In March 2021, Fast Company magazine named Ranpak one of year's top innovators in logistics "for replacing traditional shipping materials [like bubble wrap] with paper alternatives."[24]

Notes and References

  1. Web site: McCafferty . Rachel Abbey . Ranpak stakes its future on sustainable packaging . Crains Cleveland Business . 27 July 2020 . July 17, 2020.
  2. News: Tan . Gillian . Spector . Michael . Private-Equity Firm Rhône Group Nears Deal to Buy Ranpak - The Deal Values Ranpak At Roughly $900 Million, Including Debt . 30 June 2020 . The Wall Street Journal . The Dow Jones Company . August 13, 2014.
  3. Web site: FORM 8-K - RANPAK HOLDINGS CORP. . UNITED STATES SECURITIES AND EXCHANGE COMMISSION . 30 June 2020 . 9 . June 6, 2019.
  4. Web site: Method and Mechanism for producing cushioning dunnage . USPTO.gov . United States Patent and Trademark Office . 20 June 2020 . May 5, 1970.
  5. Web site: ARMINGTON, RAYMOND Q. . Case Western Reserve University Encyclopedia of Cleveland History . 31 May 2019 . Case Western Reserve University . 20 June 2020.
  6. Web site: Patents by Inventor Raymond Q. Armington . Justia.com . JUSTIA . 30 June 2020.
  7. Web site: Prizinsky . David . New products to fill Ranpak growth plans . Crains Cleveland Business . 29 July 2020 . July 15, 2002.
  8. News: Bruijins . Pieter . Eco-friendly packaging filling American factory Ranpak to Heerlen . Limburgsch Dagblad . 21 June 2022 . Dutch . December 12, 1990 . Ranpak will manufacture machines for making environmentally friendly' paper packaging filling... Initially, Ranpak will only make the packaging filling in Heerlen..
  9. News: Company News . 20 June 2020 . The New York Times . June 3, 1992 . 4, Section D.
  10. News: Bukro . Casey . Packaging Gets Leaner, 'Greener' at Technology Expo . 20 June 2020 . Chicago Tribune . November 10, 1992.
  11. News: Ratzenberger To Retain Ownership Interest In Firm . 30 June 2020 . The Seattle Times . June 3, 1992.
  12. News: McCafferty . Rachel Abbey . Ranpak Corp. acquires North Carolina-based paper packaging materials company . 30 June 2020 . Crains Cleveland Business . May 27, 2014.
  13. Ranpak Highlights Acquisition of French Packaging Automation Company e3neo . Professional Services Close-Up . March 11, 2017 .
  14. Web site: US's Ranpak acquires packaging automation company e3neo . Packaging Gateway . Verdict Media Limited . 30 June 2020 . March 5, 2017.
  15. Web site: Private Equity-Ranpak . First Atlantic Capital . 29 July 2020 . Acquisition Date December 2001.
  16. Web site: First Atlantic Capital Acquires Majority Interest in Ranpak . First Atlantic Capital . 30 June 2020 .
  17. News: Sorkin . Andrew Ross . Buyout Firm Is Acquiring Manufacturer Of Packaging . 30 July 2020 . The New York Times. January 11, 2002 . 32.
  18. Web site: First Atlantic Capital Sells Ranpak Corp. to American Capital Strategies . Business Wire . 29 July 2020 . December 14, 2005.
  19. Web site: Odyssey Investment Partners Acquires Ranpak . Odyssey Investment Partners . 30 June 2020 . January 3, 2008.
  20. News: Suttell . Scott . Ranpak Corp. in Concord Township is sold to private equity firm Rhone Capital LLC . 30 June 2020 . Crains Cleveland Business . August 14, 2014.
  21. Web site: Kelleher . Colin . Blank-Check Company One Madison to Buy Ranpak for $950 Million . The Wall Street Journal . 30 June 2020 . December 13, 2018.
  22. Web site: Ho . Sookhan . Omar Asali: the road to yes . Virginia Tech Business - Magazine of the Pamplin College of Business . 30 June 2020 . Spring 2018.
  23. . [The Innovation 50 -- A listing of the most inventive small companies in entrepreneurial America |url=https://www.inc.com/magazine/20020801/24453.html |access-date=20 June 2020 |magazine=Inc. magazine |date=August 1, 2002 |quote=Number of patents: 103].
  24. . The 10 most innovative logistics companies of 2021 . Fast Company . 9 March 2021 . March 9, 2021.

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Ranpak".

Except where otherwise indicated, Everything.Explained.Today is © Copyright 2009-2024, A B Cryer, All Rights Reserved. Cookie policy.