StePac Acquisition By Nili Capital: New Prospects For Growth

Nili Capital Group positions StePac at heart of its new modified atmosphere packaging platform

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Dec 02, 2020, 08:45 ET

TEFEN, Israel, Dec. 2, 2020 /PRNewswire/ -- Fresh produce packaging specialists StePac L.A., Ltd. has been acquired by Nili Capital Partners, an Israeli private equity fund. As a leading provider of sustainable packaging solutions to the fresh produce industry, StePac will form the nucleus of Nili's modified atmosphere packaging (MAP) platform, MAPfresh Holdings, Inc.

StePac offers a broad range of films and packaging formats with modified atmosphere properties for shelf life extension of different fresh produce items. Format are available to supports all stages of the supply chain from long-haul shipments, to retail shelf-storage as well as home storage.

StePac, best known for its Xtend^® packaging product brand, boasts a broad portfolio of precision-engineered, lean, functional packaging solutions and formats that help extend seasonality, support long-haul shipments, enhance quality, and reduce waste in the fresh produce supply chain.

"This acquisition marks a major step toward StePac's goal of becoming the leading global force in MAP packaging solutions for fresh produce," says 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."

"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," states 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."

For further information please contact your local StePac territory manager or distributor.

About StePac

StePac specializes in functional packaging for fresh produce. Its globally recognized brands for bulk and retail modified-atmosphere/modified-humidity packaging solutions include Xtend®, Xflow™ and Xgo™. These solutions reduce weight loss, slow respiration and aging, and inhibit microbial decay, while prolonging storability and shelf life. They are supported by a wealth of post-harvest expertise for enhanced performance and sustainability.

Company Contact:
StePac L.A. Ltd.
Ms. Hila Nagel
Marketing Communications
Tel: +972-4-612-3500
[email protected]
www.StePac.com
@StePac_Xtend

SOURCE StePac