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
The Early Years
Novipax has manufactured trays for more than 50 years and absorbent pads for more than 40 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
As part of a strategic realignment, Sealed Air sold its North American trays and absorbents business to Atlas Holdings LLC in April of 2015. 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.