In its first-quarter 2026 investor letter, Meridian Contrarian Fund highlighted Ranpak Holdings Corp. (NYSE:PACK).
Headquartered in Concord, Ohio, Ranpak Holdings Corp. (NYSE:PACK) provides sustainable protective packaging solutions for e-commerce and industrial supply chains
On June 26, 2026, Ranpak Holdings Corp. (NYSE:PACK) closed at $7.31 per share, reflecting a market capitalization of $607.36 million. Ranpak Holdings Corp. (NYSE:PACK) posted a one-month return of 2.90%, and its shares gained 98.60% over the past 52 weeks. Meridian Contrarian Fund stated the following regarding Ranpak Holdings Corp. (NYSE:PACK) in its Q1 2026 investor letter: “Ranpak Holdings Corp. (NYSE:PACK) is a manufacturer of paper-based protective packaging solutions.
The company was an early leader in sustainable packaging products, which are superior to plastic, foam, and other common packaging materials. We first invested in 2023 after Ranpak’s earnings declined due to tough ecommerce comps post-pandemic and as profitability was impacted by investments in its automation products. Our thesis was that Ranpak would continue to gain share in the large protective packaging market and that the automation business would gain traction and reach profitable scale.