Ranpak is a global provider of protective packaging solutions and end-of-line automation for e-commerce and industrial supply chains. The company operates on a recurring-revenue model, deploying proprietary systems that customers use to convert paper into void-fill, cushioning, and wrapping products, while generating profit from consumables sold exclusively for those systems; it also sells automated solutions for fulfillment operations. The company serves over 30,000 end-users across diversified industries through a network of over 250 distributors worldwide and direct sales, with approximately two-thirds of revenue from consumables and one-third from automation and other solutions, driven by e-commerce growth, sustainability demand, and geographic expansion.