May River Capital-backed PaperTech has acquired Bake-Best, a manufacturer of pressed paperboard trays based in Redmond, Oregon. The deal, whose financial terms have not been disclosed, expands PaperTech's footprint in the food packaging sector. PaperTech, located in Findlay, Ohio, produces pressed paperboard products for the food packaging and foodservice industries.

This acquisition strengthens PaperTech's position in a market that has seen steady growth. Bake-Best, founded in 2007, serves various foodservice end markets, including processors, supermarkets, regional restaurant chains, and schools. Demand for sustainable and eco-friendly packaging solutions is rising, making this acquisition strategically important.

The increasing focus on sustainable packaging options is driving consolidation and investment in this space. Private equity firms are actively seeking acquisitions in the food packaging sector. This deal allows PaperTech to broaden its product offerings and potentially increase its market share. Further details on the deal's impact are yet to be announced.

What's next for the combined entity will be key. Integration of Bake-Best into PaperTech's operations, along with any further strategic moves, will be closely watched. Investors will be keen to see how this deal affects PaperTech's financial performance and its ability to capitalize on growing demand for sustainable packaging solutions.