CAROL STREAM, Illinois, June 10, 2021 / PRNewswire / – Soteria Flexibles is pleased to announce that it has completed the acquisition of Redi-Bag, Inc., one of the leading manufacturers of polyethylene film and plastic packaging in the Northwest of the Pacific. Based at Tukwila, WA, Redi-Bag serves a diverse set of customers primarily in the seafood and product packaging markets. Soteria will continue to operate the acquired business under the name Redi-Bag.
Redi-Bag has a wide range of extrusion, converting and printing capabilities and all of its products are FDA compliant and SQF certified. With the acquisition of Redi-Bag, Soteria Flexibles further strengthens its manufacturing capabilities and product offerings, while expanding its geographic footprint. This will allow Soteria to gain access to new customers and improve its service to existing customers, thus strengthening Soteria’s reputation as a leading supplier of blown films and protective packaging products.
Bradley Herbolsheimer, CEO of Soteria Flexibles, commented: “Athos Ikonomou, President of Redi-Bag, has built a world-class team and a state-of-the-art facility. Redi-Bag’s unmatched approach to solution development and customer service fits perfectly into the Soteria umbrella. We look forward to working with Athos and the Redi-Bag team to accelerate our regional growth.
“During the exploration and due diligence processes, it became evident that Soteria is an ideal partner for Redi-Bag,” Ikonomou added. “We are delighted with the added value that we can bring to our customers within the framework of the Soteria platform. “
Redi-Bag represents the second acquisition of Soteria Flexibles, which was created in September 2019 by Ardian, a global private equity firm, in conjunction with its acquisition of Colonial Bag Corporation, to invest in flexible film manufacturers and packaging converters specializing in shorter-term, personalized product offerings. This transaction represents a key step in Soteria’s growth into a multi-regional provider of customized flexible packaging solutions.
About Soteria Flexibles
Based at Carol Stream, Illinois, Soteria Flexibles is a manufacturer of custom flexible plastic packaging. Soteria primarily serves the healthcare, industrial and foodservice end markets with specialty containment products, healthcare insulation liners, roll bags, coreless rolls and biodegradable films, among others, where specifications are tailored to customer applications. Soteria Flexibles was created in 2019 together with Ardian’s investment in Colonial Bag Corporation. For more information on the Colonial Bag, please visit www.colonialbag.com.
Founded in 1992, Redi-Bag is a specialized polyethylene film extrusion and bag converting manufacturer serving the distribution, food processing and general industry markets, primarily in the Pacific Northwest. , with an emphasis on seafood and product packaging. Redi-Bag products include shrink films, box liners, bin and drum liners, counter bags, perforated roller bags, pallet covers, polyethylene sheets and tubes, as well as ” other flexible customized packaging. For more information on Redi-Bag, please visit www.redi-bag.com.
SOURCE Soteria Flexibles