PaperTech completes acquisition of Bake-Best Trays to expand its food packaging offerings
Transaction overview
On January 27, 2026, PaperTech, a Findlay, Ohio-based manufacturer of pressed paperboard products for the food packaging and foodservice markets, finalized its acquisition of Bake-Best Trays. Founded in 2007, Bake-Best is headquartered in Redmond, Oregon, and specializes in manufacturing pressed paperboard trays designed for ovenable applications. The deal value was undisclosed but resulted in PaperTech acquiring a 100% stake in Bake-Best.
Deal structure and financing
Details regarding the equity and debt split used to finance this acquisition were not provided publicly. No information is available on lead banks or leverage metrics involved in the transaction. Similarly, no seller retained stake or lock-up terms for key executives have been disclosed. Given that PaperTech operates as a portfolio company of May River Capital, an undisclosed private equity firm, it is likely that funding sources included both equity from its sponsor and possibly some debt financing.
Strategic context
PaperTech's acquisition of Bake-Best Trays underscores the company’s strategy to enhance its sustainable packaging solutions for foodservice applications. The deal aims to bolster PaperTech’s product portfolio with additional formats, performance-oriented features, and microwave active susceptor technologies that cater specifically to ovenable tray requirements. This strategic move allows PaperTech to better serve customers seeking consistent cooking performance and enhanced presentation capabilities. By integrating Bake-Best’s extensive customer relationships and technological expertise, PaperTech looks to strengthen its position in the market for pressed paperboard trays as a viable alternative to traditional plastic-based packaging materials.
Regulatory path
Given that both PaperTech and Bake-Best operate primarily within the United States, the U.S. Federal Trade Commission (FTC) is likely among the regulatory bodies overseeing this transaction. However, no specific details about antitrust reviews or required remedies have been publicly disclosed at this time. Standard Hart-Scott-Rodino (HSR) Act filing obligations would apply given the sizes of both companies and their significant presence in the food packaging sector. The exact timing and resolution status of these filings remain undisclosed.
While PaperTech has not provided details on international regulatory scrutiny or specific measures taken to address any potential competition concerns, it is reasonable to expect that the deal was reviewed by relevant U.S. authorities given its industry and geographic footprint.