Unifoil Holdings, which makes plastic-free decorative paper packaging for consumer goods, filed on Thursday with the SEC to raise up to $15 million in an initial public offering.
The Fairfield, NJ-based company plans to raise $15 million by offering 3 million shares at a price range of $4 to $6. At the midpoint of the proposed range, Unifoil Holdings would command a market value of $68 million.
Unifoil develops, designs, manufactures, and sells paper and paperboard products for consumer goods packaging that are plastic free and 100% recyclable. Using its proprietary processing technology, the company metalizes paper to create custom products with a reflective metallic look or holographic design, without the need for an additional plastic substrate. Unifoil's customers span the US, Mexico, Canada, and Poland, and the company has served various consumer brands such as Anheuser-Busch, Procter & Gamble, Colgate-Palmolive, and Unilever, among others.
Unifoil Holdings was founded in 1971 and booked $29 million in sales for the 12 months ended March 31, 2023. It plans to list on the NYSE American under the symbol UNFL. Boustead Securities and Sutter Securities are the joint bookrunners on the deal.
