Creates Total Thermal Protection Solution with Single Sourced Sustainable Cool Packs and Paper-Based Thermal Protection Packaging

CONCORD TOWNSHIP, Ohio & VENLO, Netherlands–(BUSINESS WIRE)–Ranpak Holdings Corp. (“Ranpak”) (NYSE: PACK), a global leader of environmentally sustainable, paper-based packaging solutions for e-commerce and industrial supply chains, announced today the acquisition of Recycold Cool Solutions BV (“Recycold”), a manufacturer of sustainable cool packs. Unlike typical cool packs, Recycold Cool Packs are made from a drain safe, plant-based gel and their addition expands the diversity of Ranpak’s Cold Chain packaging solutions.

“We are thrilled to add Recycold and its Recycold Cool Packs products to our portfolio of sustainable Cold Chain packaging solutions at Ranpak. Recycold will immediately bolster our position as a highly effective thermal solution provider in the marketplace,” said Omar Asali, Chairman and Chief Executive Officer at Ranpak. “This acquisition reflects our focus on growth-oriented new products and our shared vision on eco-friendly solutions that express the values with which we operate Ranpak’s business worldwide.” Asali continued, “We have received great feedback from customers about Recycold Cool Packs. Ranpak will be scaling up Recycold’s business. Recycold products are already sold in 14 European countries and we look forward to leading further worldwide expansions in the future. Ranpak will also be integrating Recycold’s innovative manufacturing operations into the new Ranpak Netherlands facility, expected to open by the end of 2022.”

“Recycold and Ranpak have been collaborating for several years now and I am so pleased that, under Omar’s leadership, Ranpak can take our business to greater levels,” said Ruud Titulaer, Co-Founder and Managing Director, Recycold. “Our companies share common values for a more sustainable world, and the combination of Recycold and Ranpak products will provide an unmatched unboxing experience. We are so pleased to be part of the Ranpak family, with the ability to further integrate our offerings for a more streamlined thermal protection solution for our customers, and to collaborate even more closely on future product developments.”

An Integrated Cold Chain Solution

Ranpak has been active in the Cold Chain field for several years with its WrapPak® Protector thermal liner. The paper pads trap air and prevent heat conduction, creating an exceptional insulator for Cold Chain applications. Cooling is needed to keep products cold up to 48 hours, and Ranpak recommends the use of Recycold Cool Packs as the most sustainable option in the market to meet this requirement. Ranpak and Recycold customers will now be able to order the entire solution from a single source and benefit from:

Easy integration: Packers position WrapPak paper pads easily in the box before adding the Recycold cool packs, a complete process that is easy to optimize into almost any existing packing operation.”

Unmatched unboxing experience: Ranpak Cold Chain thermal liners with Recycold Cool Packs offer a superior unboxing experience, minimizing or eliminating the need for plastic packaging for a more sustainable approach.

Cost and sustainability gains: No costly return shipment and handling of conventional cooling systems with the use of these sustainable products.

About Ranpak

Founded in 1972, Ranpak’s goal was to create the first environmentally responsible system to protect products during shipment. Ranpak’s mission is to deliver sustainable packaging solutions that help improve supply chain performance and costs, reduce environmental impact, and support a variety of growing business needs globally. The development and improvement of materials, systems and total solution concepts have earned Ranpak a reputation as an innovative leader in e-commerce and industrial supply chain solutions. Ranpak is headquartered in Concord Township, Ohio and has approximately 850 employees. Additional information about Ranpak can be found on its website: https://www.ranpak.com.

About Recycold Cool Solutions BV

RECYCOLD Cool Solutions develops innovative packaging products that contribute to safe and eco conscious distribution of food, fresh ingredients and pharma. Recycold’s aim is to make sure every manufacturer, supplier or store can reach their customers with fresh and cooled products with a promise to focus on using materials that are eco-friendly, recyclable and suitable for passive cooling in the last mile of distribution.

Contacts

Investor Inquiries:

Bill Drew

Ranpak

ir@ranpak.com

Media Inquiries (U.S.):

Eric Becker

ICR for Ranpak
(303) 638-3469

eric.becker@icrinc.com

Media Inquiries (EMEA & APAC):

Monika Dürr

duomedia PR for Ranpak

+49(0)6104 944895

monika.d@duomedia.com