CSP Technologies acquires packaging solutions provider
This acquisition represents a significant platform for further expansion into the food industry, in line with CSP’s diversification and growth strategy.
CSP Technologies, Inc., an Auburn, Ala.-based leader in advanced polymeric protective packaging solutions, acquired Maxwell Chase Technologies, LLC, an Atlanta-based producer of absorbent and non-absorbent packaging solutions for the food industry. This acquisition represents a significant platform for further expansion into the food industry, in line with CSP’s diversification and growth strategy.
Founded in 1994, Maxwell Chase’s innovative active packaging solutions control moisture and improve quality and extend shelf life in fresh foods, including fresh-cut fruits, vegetables, meats, poultry and seafood. The company also produces processing equipment that integrates with its packaging.
"We are excited about our partnership with CSP. They understand our heritage and its emphasis on innovation, quality, and most importantly, people—all of which have been essential to our success. Together, we have the capability to deliver numerous benefits to our customers by continuing to innovate and provide enhanced and reliable food packaging solutions to the global market," says Michael Walsh, CEO and part-owner of Maxwell Chase Technologies.
"We are very excited about adding Maxwell Chase to the CSP family,” adds John Belfance, chief executive officer of CSP Technologies. “Maxwell Chase represents a significant step in our efforts to diversify CSP's business profile and our long-term strategy to develop active packaging solutions for the healthcare and food industries. By extending our portfolio to include Maxwell Chase' differentiated product offering supported by its expertise in moisture-absorbent technology, we can offer our customers comprehensive packaging solutions. Our combined capabilities will enable our customers to address the increasing challenges in the food packaging industry by offering reliable design and delivery."
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