Ranpak Inc. is reportedly seeking a buyer, and the paper packaging company could fetch as much as $1.5 billion.

Bloomberg reports that Rhone Capital LLC is considering a sale of the Concord Township company, and it’s working with Goldman Sachs Group Inc. to find a buyer.

Ranpak, which is said to have around $100 million in annual earnings, makes paper packaging and paper-packaging machinery for the automotive, electronics, medical supply and glassware industries, among others.

Rhone Capital acquired the company for an undisclosed sum in 2014 from Odyssey Investment Partners LLC.