Ranpak

Ranpak Holdings Corp. manufactures machines and paper products used in protective paper-based packing for shipping goods and merchandise for e-commerce and industry. The company is based in Concord, Ohio, and has production facilities and offices in Reno, Nevada; Raleigh, North Carolina; Kansas City, Missouri; the Netherlands; Czech Republic; and Singapore. This material is sometimes known as dunnage.
History.
The company traces its origins to the machine patented by George R. Johnson in 1970 that converted kraft paper into shock absorbing crinkled paper for use in cushioning merchandise to prevent it being damaged in shipment.
Johnson, working with entrepreneur and engineer, Raymond Q. Armington, an inventor with several packing- and storage related patents to his name, incorporated the company in 1972. Armington became its chairman, a position he held until his death in 1993. In early 2002, David M. Gabrielsen was appointed president and CEO of Ranpak replacing Steven E. Armington,<ref name="CCB, Prizinsky, 7/15/02"></ref> son of the co-founder.
In 2002, Inc. magazine named Ranpak among the top 50 most innovative small companies of the year based on the number of patents awarded.
Ranpak's acquisitions include:
In March 2021, Fast Company magazine named Ranpak one of year's top innovators in logistics "for replacing traditional shipping materials with paper alternatives."
Ownership.
Ranpak was sold in December 2001 to First Atlantic Capital for over $100 million.<ref name="Sorkin, NYT, 1/11/2002"></ref> In December 2005, First Atlantic sold Ranpak to American Capital Strategies Ltd., which in turn sold Ranpak Corp to Odyssey Investment Partners in 2007. Rhone Group acquired the company in 2014.
In 2019, a group led by One Madison Group and its founder, Omar Asali, purchased Ranpak from Rhone Group for $950 million. Asali, former co-head of Goldman Sachs Hedge Fund Strategies, is the current president and CEO.