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Gladstone invests $16.5m in Frontier Packaging

US-based Gladstone Investment has announced an investment of $16.5m in Frontier Packaging, through a combination of debt and equity.

Investment management company Gladstone provided the capital to purchase the business from its previous owners, together with certain members of Frontier’s executive management team.

Gladstone Investment president Dave Dullum said," Frontier has an impressive track record of high customer satisfaction and we look forward to supporting management as they continue to build on that track record."

Frontier supplies a range of time sensitive packaging materials to the Alaskan seafood market.