One Madison Corporation Announces Preliminary 2019 1Q Results for Ranpak
(WorldNews Business)

NEW YORK--(BUSINESS WIRE)--Apr 23, 2019--One Madison Corporation (NYSE: OMAD, OMAD.U, OMAD.WS) (`One Madison`) today announced unaudited preliminary first quarter 2019 results for Rack Holdings Inc. (`Rack Holdings`), holding company of Ranpak Corp. (`Ranpak` or the `Company`). Rack Holdings´ unaudited preliminary first quarter highlights, compared to first quarter 2018, in each case on a non-GAAP constant currency basis, include:Net sales increased 12% year over year to $66.5 million, driven by 8% growth in systems placement and strength across Cushioning, Wrapping, and Void-Fill product linesGross profit increased 9% year over year to $28.3 million due to higher sales and slightly offset...