Hong Kong, September 19, 2022 – The Board of the Ontario Teachers’ Pension Plan (“OTPP”) is pleased to announce that it has acquired a co-controlling interest in GPA Global (“GPA” or the “Company”) from EQT Private Equity (“EQT”) and other minority shareholders. The two founders of GPA, Tom Wang and Adam Melton, will take over their respective shareholdings and continue to lead the company. Terms of the transaction are not disclosed.
GPA is a leading full-service provider of premium packaging solutions for brands in North America and Europe, serving diverse end markets including consumer electronics, beverages, jewelry, health and beauty. GPA offers packaging design, engineering, supplier management, production, distribution and has a manufacturing footprint in Asia, North America and Europe.
Raju Ruparelia, Senior Managing Director, Private Equity, Asia-Pacific at Ontario Teachers’, said, “We are delighted to invest in GPA, our first co-owned private equity investment in the region. We believe we are well positioned to support the continued growth of the business by leveraging our global reach and track record of successful investment in the packaging and consumer sectors. We believe Tom and Adam have created a unique and differentiated packaging platform and look forward to a lasting partnership with them and GPA’s talented management team as the business enters its next stage of growth.
Tom Wang, Co-Founder and President of GPA, and Adam Melton, Co-Founder and CEO of GPA, jointly said, “We welcome Ontario Teachers’ and look forward to working with them to continue to build the foundation that we created with EQT. . Ontario Teachers’ global reach, long-term, collaborative investment approach and strong track record of success in the relevant industry make it the perfect next partner for us and the company. We look forward to working with the Ontario Teachers’ team as we strive to achieve our goal of making GPA a globally recognized leader in sustainable packaging solutions.
GPA is the latest investment from Ontario Teachers’ Private Capital team in Asia. Recent investments include Sahyadri Hospitals, the largest chain of private hospitals in the Indian state of Maharashtra, Greenstone, a leading insurance distributor in Australia and New Zealand, and Princeton Digital Group, an investor, pan-Asian data center operator and developer. Teachers’ also has considerable investment experience in the packaging industry, including recent investments in Logoplaste, a Portuguese manufacturer of durable rigid plastics, and TricorBraun, a global packaging leader and the most major distributor of primary packaging in North America.
About GPA Global
Founded in 2009, GPA has two headquarters in Shenzhen and Seattle, with coverage in the US, UK, Poland and Hong Kong. It provides high-end, full-service packaging solutions to brands in North America and Europe, serving diverse end markets, including consumer electronics, wine and spirits, jewelry, healthcare and the beauty. It offers packaging design, engineering, sourcing, distribution and has a manufacturing footprint in Asia, North America and Europe. For more information, visit https://www.gpaglobal.net/.
The Ontario Teachers’ Pension Board is a global investor with net assets of $242.5 billion as of June 30, 2022. We invest in more than 50 countries in a wide range of assets including public and private equities, fixed income, credit, commodities, natural resources, infrastructure, real estate and venture capital growth to provide income benefits to 333,000 active and retired members.
With offices in Hong Kong, London, San Francisco, Singapore and Toronto, our more than 350 investment professionals bring deep expertise in sectors ranging from agriculture to artificial intelligence. We are a fully funded defined benefit pension plan and have earned a total annual net return of 9.6% since the plan’s inception in 1990. At Ontario Teachers’, we don’t just invest to make a return, we invest to shape a better future for the teachers we serve, the businesses we support and the world we live in. For more information, visit otpp.com and follow us on Twitter @OtppInfo.
Ontario Teachers’ Pension Plan
Telephone: +1 416-419-1437
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