Plastic Packaging, Inc.
ATI Capital Group, Inc. represented the co-trustees of Plastic Packaging, Inc. in a combination equity recapitalization–Employee Stock Ownership Plan, stage two transaction. Plastic Packaging is the leader in manufacturing plastic packaging in the South Eastern United States. The Company's products can be found in retail and grocery stores throughout the U.S. Products include re-sealable pouches for a variety of pre-cooked products such as fish, chicken, and vegetables. The Company also manufactures plastic packaging for non-durable goods such as, pillows, socks, cat litter, and various spray\paint products.
The recap and sale to the Company's existing Employee Stock Ownership Plan and Trust represented an approximate 27% additional transaction of the then outstanding stock. This transaction allowed for the consolidation of shareholders, financing for plant expansion, and restructuring of the Company's balance sheet. It gives the employees a substantial additional retirement benefit going forward and it gives the owners, managers, and employees a renewed common incentive toward improved productivity, profitability and ultimately a higher share value.
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