Ranpak

Ranpak Holdings Corp.

Company type	Public
Industry	Packaging machinery and paper products
Founded	1972
Founder	George R. Johnson, Raymond Q. Armington
Headquarters	Concord, Ohio , United States
Area served	North America, South America, Europe, Middle East, Asia-Pacific
Key people	Omar Asali (President and CEO)
Products	Protective packaging solutions, cushioning, wrapping, void filling, temperature-controlled logistics packaging, automation technologies
Owner	One Madison Group consortium
Website	ranpak.com

Ranpak Holdings Corp. is a publicly traded enterprise that focuses on machinery and paper-based products designed for protective packaging solutions used in e-commerce and industrial shipping sectors, as well as automation technologies. With its headquarters located in Concord, Ohio, the company maintains manufacturing plants and offices throughout North and South America, Europe, the Middle East, and the Asia-Pacific region. Its paper packaging offerings cater to diverse needs such as cushioning, wrapping, void filling, and temperature-controlled logistics. Prominent customers include major international retailers like Amazon, IKEA, and Walmart.

History

The name Ranpak, derived from Random Packaging, traces back to a 1970 patent filed by George R. Johnson for a device that transforms kraft paper into crinkled cushioning material to safeguard automotive components during transit. Johnson joined forces with inventor and businessman Raymond Q. Armington—who held multiple patents in packaging and storage—to establish the company in 1972. Armington acted as chairman until his passing in 1993. In 2002, David M. Gabrielsen took over the role of president and CEO from Steven E. Armington, son of one of the founders.

The firm extended its global footprint by launching its initial overseas manufacturing facility in Heerlen, Netherlands, in 1991 to better serve European customers.

Ranpak’s growth strategy includes several key acquisitions that have broadened its product range and market presence:

• Eco-Pak Industries, located in Kent, Washington—a producer of biodegradable packing materials founded by entrepreneur and actor John Ratzenberger.
• Geami, headquartered in Raleigh, North Carolina—specializing in recyclable paper-based packaging solutions.
• e3neo, a French company concentrating on automated packing equipment and logistics software.
• Creapaper GmbH, a German enterprise providing grasspaper products acquired in October 2021.
• Recycold Cool Solutions BV, a Dutch manufacturer of eco-friendly plant-based cooling packs purchased in 2021.

These strategic purchases have fueled Ranpak’s expansion while strengthening its position as a leader in sustainable packaging innovation.

Ownership

In December 2001, First Atlantic Capital acquired Ranpak for more than $100 million. Subsequently, in December 2005, First Atlantic sold the company to American Capital Strategies Ltd., which then divested it to Odyssey Investment Partners in 2007. The Rhone Group became the owner in 2014.

A consortium led by One Madison Group and its founder Omar Asali—formerly co-head of Goldman Sachs Hedge Fund Strategies—bought Ranpak from Rhone Group for $950 million in 2019. Omar Asali currently serves as president and CEO.

Recognition

Ranpak was listed among the top 50 most innovative small businesses by Inc. magazine in 2002 based on its patent achievements.

In March 2021, Fast Company honored Ranpak as one of the leading innovators in logistics for substituting conventional shipping materials with environmentally friendly paper alternatives.