StePac Acquired by Nili Capital as New Prospects For Growth Take Shape
TEFEN, ISRAEL - When two innovative forces join together, the sky is the limit. This is the case as StePac L.A. has announced that it has been acquired by Nili Capital Partners. StePac, a fresh produce sustainable packaging specialist, will now form the central piece of Nili’s Modified Atmosphere Packaging (MAP) platform, MAPfresh Holdings.
“This acquisition marks a major step toward StePac’s goal of becoming the leading global force in MAP packaging solutions for fresh produce,” said Asaf Shachnai, CEO of StePac and MAPfresh Holdings. “Our unwavering focus on product quality, innovation, and customer service drives our strong organic growth, and Nili will enable us to accelerate our inorganic growth as we seek additional acquisition opportunities in the industry.”
StePac is well known for its Xtend® brand of product packaging, which entails a broad portfolio of precisely engineered, functional packaging formats and solutions that help extend produce seasonality, enhance quality, reduce waste, and support long-haul shipments, according to a press release.
With such extensive insights into sustainable packaging solutions, StePac is the perfect choice to lead Nili’s new platform.
“Secular trends in the fresh produce industry, new post-COVID norms, and the push toward greater sustainability and environmentally friendly solutions attracted us to this category,” stated Josef Mandelbaum, General Partner with Nili. “StePac’s strong management team, with more than 25 years of experience in post-harvest science in the fresh produce industry and a history of strong innovation, secured our belief that it was the right company to anchor our MAP platform.”
As more companies across the fresh produce industry push forward sustainability and new packaging solutions, AndNowUKnow will be here to deliver important updates.