Astara Capital Partners announced that it led a continuation vehicle for Garlock Flexibles and completed the simultaneous merger of C-P Flexible Packaging in October 2025, creating one of the top 15 flexible packaging manufacturers in North America.
The combined company, Garlock/C-P, operates 10 manufacturing facilities across the United States and Canada and is headquartered in York, Pennsylvania. Astara originally acquired Garlock in 2021, transforming it from a non-core subsidiary of a family-owned business into a standalone packaging company focused on food and produce packaging.
According to the firm, the merger represents a continuation of its strategy to scale Garlock’s operations while also providing liquidity to certain investors. The new platform expands production capabilities across several packaging technologies, including high-graphics flexographic printing, adhesive and extrusion lamination, cold seal applications, laser perforation and scoring, clean-room production, and stand-up pouch and bag converting.
Garlock/C-P also plans to advance recyclable and compostable flexible packaging formats while developing sustainable material solutions to support customers’ environmental goals.
The company expects to invest more than $20 million in capital expenditures during 2026. Planned investments include preventative maintenance programs, new manufacturing equipment, modernization of production assets, and continued spending on IT systems, data infrastructure, and analytics capabilities.
Astara said the integration of the two companies has progressed well, with the combined platform focused on maintaining service quality and operational efficiency while expanding its capabilities and scale across North America.
BMO Capital Markets served as financial advisor to Garlock, while M2O Private Fund Advisors acted as placement agent and Proskauer Rose LLP served as legal counsel. Greenhill & Co., a Mizuho affiliate, served as exclusive financial advisor to C-P Flexible Packaging, and Dechert LLP served as legal counsel.
Astara Capital Partners is a middle-market private equity firm that provides capital and operational support to companies across sectors including building products, home services, food, packaging, manufacturing, and distribution.
KEY QUOTES:
“We are grateful to our investors for their support and partnership, which made the C-P transaction possible. Their confidence in our strategy has enabled us to simultaneously provide liquidity to certain investors while building a stronger, more diversified, and scalable flexible packaging platform with significant long-term growth potential.”
Michael Ranson, Managing Partner, Astara Capital Partners
“The formation of Garlock/C-P has created a leading flexible packaging manufacturer with the scale, capabilities, and innovation engine to better serve customers across North America. The integration is off to a great start: the team has made significant progress across key functional areas while maintaining disciplined focus on seamless service, quality, and responsiveness for customers throughout the transition.”
Lindsey Tannenbaum, Partner, Astara Capital Partners
“We are extremely proud of the progress Garlock has made since we partnered with the company in 2021. Thank you to Greg Powell and the entire Garlock team for their exceptional work. Executing the combination with C-P is a testament to their leadership, discipline, and commitment to building a best-in-class organization.”
Rob Groberg, Partner, Astara Capital Partners
