Led by industry veteran, Carey Edwards, SmartPac Inc. launched in 2019 and quickly established a customer base that is driving demand for alternatives in take-out food service and beverage packaging.
The Company estimates the one-year agreement will deliver between CAD$650,000 and CAD$1,300,000 revenue with expected gross margins of 25% to 30%. SmartPac and good natured® are well positioned to deliver on demand for eco-friendly food service packaging alternatives to traditional, petroleum-based packaging.
“We’re excited to partner with the team at good natured® in an effort to transition some of our plastic food and beverage packaging to plant-based alternatives,” said Carey Edwards, President & CEO of SmartPac Inc. “Our customers are asking us for more eco-friendly options, and this partnership will allow us to offer a wider range of custom-made earth-friendly packaging to our already large customer base.”
Paul Antoniadis, CEO of good natured®, added: “It’s a real pleasure to be working with an industry leader like Carey and his growing team at SmartPac to make more plant-based products and packaging available to customers in the United States and Canada.
It’s commercial agreements like these that reinforce our commitment to being a leader in the development and distribution of renewable, sustainable products and packaging in North America.”
This news comes after the Company’s recent announcements outlining the acquisition of Shepherd Thermoforming & Packaging Inc. and the signing of multi-year commercial agreements with two U.S food producers to supply plant-based packaging, delivering between CAD$1.7 million to CAD$2.0 million in organic growth on an annualized basis.
The Shepherd acquisition is subject to certain closing conditions and is expected to close by the end of April 2020.
Published on goodnatured.ca