Azalea Capital Acquires Star Packaging

Azalea Capital is pleased to announce the acquisition of Star Packaging, headquartered in Atlanta, GA, which specializes in printing, laminating, and conversion of flexible packaging materials. Azalea also announces the simultaneous merger of Star Packaging with existing portfolio company Master Packaging, Inc., located in Tampa, FL. The combined entity, Star Packaging Corp., will be headquartered in Atlanta, GA with operating facilities in both Georgia and Florida.

The combination of Master and Star Packaging creates a dynamic platform for growth in the flexible packaging industry with the financial strength, state-of-the-art manufacturing capabilities, and significant capacity to support future growth. Star Packaging Corp. offers value-added products including traditional printed rollstock and laminations, along with stand-up pouch variations, rollstock with transverse-direction zippers and custom-designed high-performance laminations ideal for replacing rigid alternatives. This diverse product mix serves the pet food and treat, fresh produce, food and beverage, snack, confectionery, bakery, pool chemical, military packaging, personal care, pharmaceutical, nutraceutical, and lawn and garden markets

Fred Crowe, president and CEO of Star Packaging Corp., said, “The combined industry expertise and manufacturing capabilities allow the new company to provide customers quality, innovation, and speed to market with a broad line of flexible packaging solutions.” Mike Wilson, former owner of Star, will remain on the board of the new company.

The acquisition of Star Packaging is the latest investment for Azalea Capital. Other holdings include KLMK Group, Inc. (Richmond, VA), Ivize Services, Inc. (Atlanta, GA), Etak Systems, Inc. (Charlotte, NC), Sunbelt Chemicals Corp. (Palm Coast, FL), while global automotive bodycloth manufacturer, Sage Automotive Interiors, was recently divested.

Azalea Capital is actively seeking new investment opportunities for its third partnership, The Azalea Fund III, L.P. For questions or more information about Azalea Capital, please visit our website at www.azaleacapital.com or contact Pat Duncan.

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