US-based PaperTech has finalised its acquisition of Bake-Best Trays, a manufacturer of pressed paperboard trays based in Oregon.
Financial terms of the deal remain undisclosed.
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Bake-Best’s products are designed for oven use and feature design elements aimed at improving food texture when heated, including microwave-active susceptor technology to help enhance browning and crisping.
Since its establishment in 2007, Bake-Best has supplied food processors, retail chains, supermarkets, restaurants, and educational institutions.
PaperTech said that the addition of Bake-Best will strengthen its sustainable packaging offering by integrating complementary products and specialised cooking-performance technologies.
The acquisition aims to provide a wider variety of alternatives to CPET [crystallised polyethylene terephthalate] and polypropylene.
Paul Hastings was legal counsel for PaperTech during the transaction while Steven M. Berne represented Bake-Best.
PaperTech CEO Chris Collis said: “The acquisition of Bake-Best expands the depth and flexibility of our pressed paperboard tray platform.
“Bake-Best’s ovenable tray designs and susceptor-enabled solutions complement our existing capabilities and strengthen our ability to support customers where cooking performance, consistency, and presentation matter. We are excited to build on Bake-Best’s established customer relationships and deliver additional value through an expanded product offering.”
In 2020, May River Capital acquired PaperTech, which makes pressed paperboard products for the food packaging and foodservice sectors.
