Ranpak Holdings Corp.

Ranpak Holdings Corp. (NYSE: RPK) is a leading global provider of protective packaging solutions and end-of-line automation technology for e-commerce and industrial supply chains. Founded in 1972, the company operates through two reportable segments: North America and Europe/Asia, generating net revenue of $395.0 million in 2025. The company maintains operations across multiple countries including the United States, Netherlands, Czech Republic, and Malaysia, with over 800 full-time employees worldwide.

The company's core business centers on protective packaging systems that are entirely recyclable, renewable, and biodegradable, utilizing fiber-based materials rather than plastic or petroleum-based alternatives. Ranpak's protective packaging solutions segment comprises three primary product categories: Void-Fill systems marketed under the FillPak brand, which generated 45 percent of revenue; Cushioning systems sold as PadPak products, accounting for 36 percent of revenue; and Wrapping systems branded as WrapPak and Geami, representing 9 percent of revenue. The company maintains an installed base exceeding 145,000 systems serving more than 30,000 end-users globally.

Complementing its traditional protective packaging offerings, Ranpak provides Automation and Machine Vision solutions that enable customers to automate end-of-line fulfillment operations, reducing waste, labor, and shipping costs. These automation products generated 10 percent of total revenue in 2025. The company operates through a distinctive razor-and-razor-blade business model, providing proprietary systems to distributors and end-users on a recurring fee basis while generating substantial recurring revenue from high-margin paper consumables that work exclusively with its systems.

Approximately 80 percent of revenue derives from sales through an established network of over 250 distributors worldwide, with the remaining 20 percent from direct end-user sales and warehouse automation integrators. Geographic revenue distribution reflects approximately 47 percent from North America, 45 percent from Europe, and 8 percent from Asia and other locations. The company's customer base spans e-commerce, industrial manufacturing, machinery, and various other industries, with e-commerce representing approximately 40 percent of net revenue. Ranpak's website is www.ranpak.com.