On March 15th, 2016 CSP Technologies, Inc., a global leader in advanced polymeric protective packaging solutions, announced the acquisition of Maxwell Chase Technologies, LLC., a US-based producer of absorbent and non-absorbent packaging solutions for the food industry. Maxwell Chase is CSP’s first acquisition since Wendel’s initial investment in January 2015. It 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 is an Atlanta, Georgia-based producer of innovative active packaging solutions that control moisture and thereby 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. The combined capability benefits its customers by providing more efficient manufacturing and reliable food delivery to the global market.
“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,” said Michael Walsh, CEO and part-owner of Maxwell Chase Technologies.
John Belfance, CEO of CSP Technologies said, “We are very excited about adding Maxwell Chase to the CSP family. 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.”