A Legacy of Leadership and Innovation
Novipax’s 50+ year heritage encompasses several industry leaders, including W.R. Grace, Formpac, Sealed Air, Cryovac and Paper Pak Industries. Here’s a snapshot of our key milestones:
1965 – W.R. Grace & Co. acquires Wyomissing Paper Corp. to create W.R. Grace’s Formpac™
1966 – First Formpac facility built in Reading, Pennsylvania
1980 – Second Formpac facility built in Indianapolis, Indiana
1983 – Sealed Air acquires Cellu-Products Co., which eventually becomes Dri-Loc®
1998 – W.R. Grace sells the Formpac trays business to Sealed Air, which forms its Trays and Absorbent Pads division under the Cryovac® food-packaging brand
2015 – Sealed Air sells Cryovac® Trays and Absorbent Pads division to Atlas Holdings, Novipax formed
2016 – Novipax acquires Paper Pak Industries, a manufacturer of traditional and active absorbent products
The Company’s Origins
Novipax has manufactured trays and absorbent pads for more than 50 years. The company started in 1965, when W.R. Grace & Co. acquired Wyomissing Paper Corp. to create its Formpac™ business. The first Formpac facility was built in 1966 in Reading, Pennsylvania, and the second was constructed in Indianapolis, Indiana in 1980.
A Merger with Sealed Air
In 1983, Sealed Air formed its Dri-Loc® business from the original patented absorbent pad material of Cellu-Products Company. In 1998, Sealed Air merged its Dri-Loc absorbent pads business with W.R. Grace’s Formpac trays business, forming the Sealed Air Trays and Absorbent Pads division under the Cryovac® food-packaging brand.
Atlas Forms Novipax, Adds Paper Pak Industries
As part of a strategic realignment, Sealed Air sold its North American trays and absorbents business to Atlas Holdings LLC, establishing Novipax in April of 2015. Seventeen months later, Novipax acquired Paper Pak Industries, a manufacturer of traditional and active absorbent products with operations in California and Georgia.
Atlas, headquartered in Connecticut, owns and operates 17 companies with facilities in more than 110 locations and employs 15,000 associates throughout North America, Europe, Asia and Australia. The company’s extensive packaging experience includes food packaging, industrial packaging and specialty packaging for consumer products.
Atlas has a proven history of bringing financial, operating and transactional expertise to its investments — with the demonstrated ability to address the many unique challenges of complex corporate carve-out situations.