A Historical Perspective
Initially a privately held company, Presto became publicly owned in 1972. From 1978 through 1985, Presto was a wholly owned subsidiary of the Coca-Cola Company. Between 1988 and 2000, we operated as a wholly owned subsidiary of the Reynolds Metals Company, which became a subsidiary of Alcoa Inc. in May of 2000. Since 2008 we have been owned privately by The Rank Group.
Here’s a brief historical overview:
Founded 1961 – Started as manufacturer of Private Label Bags and Wrap (initial clients were Sears, A&P and Shop Rite).
1970 – Innovation continued to be key with introduction of mini-roll one-at-a-time dispensing.
- 1978-1985 – Operated as a wholly owned subsidiary of Coca-Cola.
- 1980 – Introduced reclosable zipper bags.
- 1984 – Received Governor’s New Product Award for Geoblock® and Geoweb®–soil stabilization for the construction industry.
- 1985 – Introduced drawstring disposer bags.
- 1988 – Operated as a wholly owned subsidiary of Reynolds Metals Company.
- 1988 – Fresh-Trak® Zipper introduced.
- 1996 – Realignment of marketing and sales with concentration on category management and customer service.
- 1998 – FRESH-LOCK® Zipper brand name introduced as replacement for Fresh-Trak® Zipper.
- 2000 – Became a business of Alcoa Consumer Products with Alcoa’s purchase of Reynolds Metals Company.
- 2008 – Purchased by The Rank Group