Cryopak, a leader in food and drink packaging solutions, has recently acquired the Gel-Pack manufacturing segment of Garden State Cold Storage (GSCS). This strategic move strengthens Cryopak’s ability to provide cold chain packaging and temperature monitoring devices to customers in the food and beverage industry. By producing Gel-Packs and conducting freezing operations at the same location as GSCS, Cryopak is set to reduce costs, improve service levels, and shorten lead times.
The acquisition, finalized on May 10, will see production beginning in late summer at GSCS’ facility in Carteret, NJ. This new addition brings Cryopak’s total North American plant locations to 10, while its parent company, Integreon Global, now operates 18 facilities. Cryopak, a subsidiary of Integreon Global, focuses on ensuring product integrity and protection through innovative materials, testing services, packaging solutions, and contract manufacturing.
This acquisition marks Cryopak’s second in eight months, with the recent addition of retail Gel-Pack manufacturer Icy Cools further enhancing Cryopak’s product lineup. Icy Cools’ range of freezing products, including unique hot/cold mats in quilted formats, has expanded Cryopak’s offerings. The incorporation of Icy Cools into Cryopak’s existing location at Edison, NJ, further strengthens the company’s retail presence.
Stock Buyback and Infrastructure Investment
In a related development, Integreon Global has acquired the remaining stock of Chasen Fiber Technologies (CFT), a company specializing in thermal packaging solutions. With access to CFT’s production facility in Irvington, NJ, Cryopak is poised to expand its portfolio of paper- and cotton-based recycled content thermal insulation and packaging options.
Furthermore, Cryopak has invested significantly in incorporating spiral freezing capabilities at its Atlanta facility. This state-of-the-art technology will enhance the company’s Gel-Pack products and service offerings. The introduction of spiral freezing technology is expected to drastically reduce frozen product lead times, revolutionizing the industry.
At the same Atlanta plant, Cryopak is integrating a high-volume, low-cost mass production starch manufacturing department. This addition will enable Cryopak to include starch in its insulation substrates, alongside PUR, paper, cotton, fiber, and EPS. The starch substrate promises cost competitiveness, superior performance, and enhanced sustainability compared to traditional materials like EPS.
Both the spiral freezing technology and starch manufacturing capabilities are set to launch in late 2024, with plans to expand to other Cryopak facilities in the future.
Michael Hays, President of Integreon Global, expressed optimism about the recent acquisitions and infrastructure investments. He emphasized the companies’ commitment to growth, capacity expansion, and sustainability, all aimed at enhancing customer experience and service levels.
