Prestige Label, of Burgaw, NC, USA, was sold Tuesday to Atlantic Corporation of Wilmington Inc., of Wilmington, NC. The buyer is known in the industry as Atlantic Packaging.
Atlantic Packaging is a family owned company begun in 1946 as a newspaper publishing venture. Today, with about 400 employees, it is active in commercial and customized paper and paperboard converting for the folding carton and other industries, as well as shrink packaging. The president of the company is Rusty Carter, son of founder W. Horace Carter.
According to Elisha Tropper, now the former president of Prestige Label, Atlantic Packaging had been a Prestige customer for more than 10 years, buying labels for its diverse customer base.
Atlantic Packaging plans to expand Prestige’s business in label converting markets. The parent company has nine locations in the US, plus others in Latin America.
Prestige Label is a printer and converter of high definition flexographic and digital labels, tags, flexible packaging, and shrink sleeves.
“Atlantic Packaging has built an outstanding reputation on the basis of the way it treats its customers, vendors and employees,” says Tropper. “Prestige represents a natural fit into the portfolio of Atlantic, and I can’t imagine a better scenario for the future prospects of the company, customers and employees.”