NPX ONE has manufactured innovative food trays for more than 50 years. The company started in 1965, when W.R. Grace & Co. acquired Wyomissing Paper Corp. to create its Formpac™ business. The first Formpac facility was built in 1966 in Reading, Pennsylvania, and the second was constructed in Indianapolis, Indiana in 1980.
In 1983, Sealed Air formed its Dri-Loc® business from the original patented absorbent pad material of Cellu-Products Company. In 1998, Sealed Air merged its Dri-Loc absorbent pads business with W.R. Grace’s Formpac trays business, forming the Sealed Air Trays and Absorbent Pads division under the Cryovac® food-packaging brand.
As part of a strategic realignment, Sealed Air sold its North American trays and absorbents business to Atlas Holdings LLC, establishing Novipax in April of 2015. Seventeen months later, Novipax acquired Paper Pak Industries, a manufacturer of traditional and active absorbent products.
Following the sale of the Novipax absorbent business to ACON Investments in December 2020, NPX ONE was established by Atlas Holdings as a standalone food tray business.
Atlas, founded in 2002 and headquartered in Connecticut, owns and operates 22 platform companies which employ more than 25,000 associates at more than 200 facilities worldwide. The company’s extensive packaging experience includes food packaging, industrial packaging and specialty packaging for consumer products.
Atlas successfully provides financial, operating and transactional expertise to its investments — with the demonstrated ability to address the many unique challenges of complex corporate carve-out situations.
W.R. Grace & Co. acquires Wyomissing Paper Corp. to create W.R. Grace’s Formpac™
First Formpac facility built in Reading, Pennsylvania
Second Formpac facility built in Indianapolis, Indiana
Sealed Air acquires Cellu-Products Co., which eventually becomes Dri-Loc®
W.R. Grace sells the Formpac trays business to Sealed Air, which forms its Trays and Absorbent Pads division under the Cryovac® food-packaging brand
Sealed Air sells Cryovac® Trays and Absorbent Pads division to Atlas Holdings, Novipax formed
Novipax acquires Paper Pak Industries, a manufacturer of traditional and active absorbent products
NPX ONE is formed following the sale of Novipax absorbents to ACON Investments