Soteria Flexibles Acquires Redi-Bag, Inc., a Premier Flexible Packaging Producer
11 June 2021
Soteria Flexibles is pleased to announce that it has completed the acquisition of Redi-Bag, Inc., a leading manufacturer of polyethylene film and plastic packaging in the Pacific Northwest. Headquartered in Tukwila, WA, Redi-Bag serves a diverse set of customers primarily in the seafood and produce packing markets. Soteria will continue to operate the acquired business under the Redi-Bag name.
Redi-Bag has an extensive array 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 also expanding its geographical footprint. This will allow Soteria to access new customers and improve its service to existing customers, reinforcing Soteria's reputation as a leading supplier of blown film and protective packaging products.
Bradley Herbolsheimer, CEO of Soteria Flexibles, commented, "Athos Ikonomou, President of Redi-Bag, has built out a world class team and a state-of-the-art facility. Redi-Bag's unparalleled approach to solutions development and customer service fits well under the Soteria umbrella. We look forward to working with Athos and the Redi-Bag team to accelerate our regional growth."
"During the exploration and diligence processes, it became evident that Soteria is an ideal partner for Redi-Bag," added Ikonomou. "We are excited about the increased value we can bring to our customers as part of the Soteria platform."
Redi-Bag represents the second acquisition by Soteria Flexibles, which was established in September 2019 by Ardian, a global private equity firm, in conjunction with its acquisition of Colonial Bag Corporation, to invest in film manufacturers and flexible packaging converters specializing in shorter-run, custom product offerings. This transaction represents a key milestone in Soteria's growth into a multi-regional provider of customized flexible packaging solutions.
About Soteria Flexibles
Headquartered in Carol Stream, IL, Soteria Flexibles is a manufacturer of customized flexible plastic packaging. Soteria primarily serves the healthcare, industrial and foodservice end-markets with specialized containment products, healthcare isolation liners, bag-on-a-roll, coreless rolls and biodegradable films, among others, where specifications tailored to fit customer applications. Soteria Flexibles was established in 2019 in conjunction with Ardian's investment in Colonial Bag Corporation. For more information on Colonial Bag, please visit www.colonialbag.com.
Founded in 1992, Redi-Bag is a manufacturer specializing in polyethylene film extrusion and bag converting serving the distribution, food processing and general industrial markets, primarily in the Pacific Northwest with a focus on seafood and produce packaging. Redi-Bag products include shrink bundling film, box liners, bin & drum liners, wicketed bags, perf-roll bags, pallet covers, sheeting and poly tubing, as well as other custom flexible packaging. For more information on Redi-Bag, please visit www.redi-bag.com.