An N.V. Publication FLEX
November 26, 2018
Vol. 20 No. 24
Serving The Flexographic Printing Industry In Print and Online at www.nvpublications.com
Millennials Drive Packaging Change
Kodak Sells Flexo Business
Eastman Kodak Company has en- tered into a definitive agreement to sell its Flexographic Packaging Divi- sion to Montagu Private Equity LLP, a leading private equity firm. After closing, the business will operate as a new standalone company that will develop, manufacture and sell flexo- graphic products, including the flag- ship KODAK FLEXCEL NX System, to the packaging print segment. New Ownership Under its new ownership, the busi- ness will have the same organization- al structure, management team and growth culture as the current Kodak’s Flexographic Packaging Division. Chris Payne, who has served as Presi- dent of the Flexographic Packaging Division for the last three years, will lead the new company as CEO. Kodak expects to receive total value of up to $390 million, com- prised of the following components: (1) base purchase price of $340 mil- lion, subject to purchase price ad- justments; (2) potential earn-out
MM illennials prefer shopping online more than other age groups, and a new survey finds that what they like about product packaging differs, too. In six years of surveys, functionality has ranked as most valued when tallying answers from the general population for the Pack- aging Matters report byWestRock paper packaging company.
“Packaging needs to do its job,” said the 2018 report, based on a survey of about 2,000 U.S. adults by an independent research firm.A product’s wrapper, box, bottle or other container should stop it from leaking, keep the item safe and be easy to use. However, millennials, more than other generations, favor pack- aging that stands out and makes their lives simpler, with designs that can be found easily when shopping and store well at home. Nickie Parker,WestRock VP of Commercial Excellence, points out that many millennials live in smaller spaces and enjoy new looks and shapes for packages, which some feature in #shelfie photos online showing their storage spaces.
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