NEW YORK, NY August 15, 2012 – Centre Lane Partners, LLC (“Centre Lane”), a private investment firm based in New York City, New York, announced today that it has acquired Oracle Flexible Packaging, Inc. (“Oracle Packaging”), which will be combined with Centre Lane’s existing portfolio company LLFlex, LLC (“LLFlex”).
Oracle Packaging is a diversified flexible packaging company serving the healthcare, food & beverage and consumer products markets. Headquartered in Winston-Salem, North Carolina, the company operates two manufacturing facilities with an employee team numbering 280.
Earlier this year, Centre Lane acquired LLFlex, a manufacturer of high-performance, metals-based laminates for packaging and industrial markets, including tobacco packaging, wire & cable armament and building & construction facings. The company, based in Louisville, Kentucky, employs a team of 140 and serves customers in North America, Central America, South America and Western Europe.
“Both LLFlex and Oracle have earned well-established reputations for providing innovative, high quality products with outstanding service to customers within their respective markets”, commented Nathan Richey, Managing Director at Centre Lane. Mr. Richey continued, “We are excited to bring these businesses together to create a true market-leader in the development, production, and supply of high-performance packaging and converted products.”
“The addition of Oracle scores a significant win for existing customers served by both companies, providing new capabilities and an expanded array of product solutions with which to serve them”, commented Andy Starr, Vice President & General Manager at LLFlex. Mr. Starr continued, “Oracle’s addition significantly expands our existing flexible packaging portfolio into several new and growing end-use segments, broadens our manufacturing capabilities and enhances our new product development capabilities.”
“This acquisition represents a significant step forward for our customers, employees and vendor partners,” said Chris Payne, Vice President Sales & Marketing with Oracle Packaging. Mr. Payne continued, “Centre Lane’s strong financial backing will enable us to effectively manage the significant core-market growth we have been experiencing and further our development efforts for exciting new product platforms within those markets. Oracle has been providing innovative packaging solutions and services to our customers for over eight decades. Now, with the opportunity to leverage our collective knowledge and capabilities within a larger packaging organization, our ability to do so is significantly enhanced.”