Ranpak Invests in German-Based Provider of Grass Paper Products Creapaper

Ranpak Holdings Corp. (“Ranpak”), a global leader of environmentally sustainable, paper-based packaging solutions for e-commerce and industrial supply chains, today announced its recent investment in Creapaper GmbH (“Creapaper”), the inventor of grasspaper and provider of grasspaper products. Creapaper announced concurrently today that the company successfully completed financing round B with new investors including Ranpak, JS Capital, Schusterman Family Investments and Soros Capital.

Creapaper uses a patented process to produce graspap, a raw material required for producing grasspaper, which helps reduce CO2 emissions and water consumption across the global paper and packaging industry.

Creapaper has been rapidly expanding its reach across Europe through its development and placement of CO2-saving grasspaper products such as hygienic papers, food & carrying bags and single-use plastic replacements with retail clients in Germany, Switzerland, Austria, the Netherlands and Italy.

“Ranpak’s strategic investment in Creapaper reflects our continued commitment to sustainability and the use of natural substrates to reduce plastic waste and carbon emissions,” said Omar Asali, Chairman and Chief Executive Officer of Ranpak. “Creapaper’s innovative grasspaper products are primed for expansion across global markets and complements Ranpak’s core paper products and sustainable packaging solutions. Working with Creapaper will advance our mission to replace plastic packaging with sustainable alternatives by expanding Ranpak’s eco-friendly solution set and paper SKUs for our growing customer base.”

Uwe D’Agnone, Founder and CEO of Creapaper added, "I am proud and honored to welcome global ecological game changers like Ranpak and JS Capital among our shareholders. Nine years ago, I started grasspaper with the vision to slow down the plastic avalanche rolling over our planet and to save trees from becoming toilet paper. Now my vision is becoming a reality and I am convinced that grasspaper will have a measurable impact soon.”

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