The Halifax Group ("Halifax") announced it has completed an investment to recapitalize Prairie Industries, Inc. ("Prairie Industries") and Nu-Pak, Inc. ("Nu-Pak"), (or together the "Company"), collectively a contract packager and manufacturer of consumer products and ready-to-eat food. Halifax partnered with the Company's management team and founders, who will remain active with the business. Terms were not disclosed.
Headquartered in Prairie Du Chien, WI, the Company operates two divisions, Prairie Industries and Nu-Pak. Prairie Industries provides services for products in a variety of end markets including home improvement, safety, sanitation, and humidity control. The division offers primary packaging and secondary packaging services as well as assembly and fabrication services at its four facilities. Nu-Pak, operating three state-of-the-art food services facilities, focuses on ready-to-eat and healthy snacking foods and products.
"As consumer product companies continue to outsource their increasingly complex packaging and manufacturing needs, there is a growing demand for the high-quality services offered by Prairie Industries and Nu-Pak. As part of an active, thesis-driven search process, we have evaluated businesses in the sector for several years and believe that this business sets itself apart through its specialized offerings, flexible service model, superior customer service, and best-in-class product quality and food safety," said Scott Plumridge, partner at Halifax.
"Halifax has demonstrated that it can be a valuable strategic partner to us as we seek to expand and grow our business," founder and CEO Jim Hutchison said. "Their strategic and financial support will allow us to meet the outsourced packaging and manufacturing needs of our great customers while still maintaining our world class safety and compliance records."
"Jim and President Jeff Panka, supported by an excellent team, have built an impressive platform and we are excited to work together to execute our shared strategy for success," added David Calder, principal at Halifax.
