Millcraft acquires Louisville corrugated packaging distributor P3

Millcraft has acquired Protective Packaging Products (P3), a Louisville, Kentucky, distributor of value-added custom corrugated and protective packaging. Financial terms were not disclosed.

Founded in 2001, P3 supplies custom corrugated packaging, returnables, polybags, polyfoam and bubble bags, and runs an assembly service that turns out roughly 3,000 to 5,000 parts each week. Its customers are mainly in the automotive and industrial sectors, and it reports keeping more than 95% of its accounts.

Millcraft CEO Travis Mlakar said P3 fits where the company sees its packaging business heading. The deal brings Millcraft protective packaging, inventory management and just-in-time delivery capabilities, while giving P3's model access to more customers and markets.