USA – Ault Alliance’s wholly-owned subsidiary, Eco Pack Technologies Inc., has entered into an agreement to acquire an 80% ownership stake in Eco Pack Technologies LTD (Eco Pack).
The companies have not disclosed the financial details and other terms of this transaction. The completion of this deal is now subject to the fulfillment of certain customary closing conditions and the companies obtaining the required regulatory approval.
Ault Alliance executive chair Milton ‘Todd’ Ault Jr said: “Incorporating Eco Pack into our portfolio is a strategic move given our belief that Eco Pack’s cutting-edge solutions address the pressing need for greener consumer goods production.
“Our primary objective is to accelerate its expansion in the US, the UK, Europe and Asia.”
Eco Pack, based in the UK, specializes in offering sustainable secondary packaging solutions and eco-centric alternatives for the fast-moving consumer goods industry and its manufacturers.
The company utilizes Siemens Digital technology to tackle contemporary packaging challenges.
Using the latest digital technology, Eco Pack develops packaging that combines sustainability with reduced environmental impact, enabling data-driven analysis and decision-making.
Its innovative approach is intended to enhance packaging design, material selection, and supply chain efficiency, enabling companies to embrace environmentally friendly options without compromising quality or performance.
Notably, Eco Pack’s solutions are poised to replace conventional cardboard boxes and shrink wraps that are commonly used in major retail chains.
Engineered with a modular framework, Eco Pack’s machinery is anticipated to be versatile enough to suit various manufacturing settings.
The company believes that Eco Pack’s technology will pave the way for businesses to adopt eco-friendly measures, which many customers may find appealing.
This acquisition is a strategic move for Ault Alliance, as it recognizes the urgent need for more environmentally friendly consumer goods production.
By acquiring Eco Pack, Ault Alliance aims to promote its growth not only in the United States but also in the UK, Europe, and Asia.
This expansion will enable more businesses worldwide to adopt sustainable practices and contribute to a more environmentally conscious future.
Ault Alliance recently unveiled its strategic plan to restructure its corporate blueprint. This transformation is intended to highlight the distinct strengths and individual growth trajectories of each subsidiary’s operations.
The new structure focuses on three central subsidiaries: Circle 8 Crane Services LLC, Sentinum Inc., and Ault Venture Group.
This realignment allows for specialized management and resource allocation to each individual subsidiary, while also maintaining the flexibility to potentially separate them into independent entities in response to future market changes.
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