Ceepackaging

Corporate

Packager sold

The purchase of UK-based Autobar Packaging was made through Sun European Partners, an affiliate of Sun Capital Partners, which bought the company from Charterhouse Capital Partners. Sun Capital is a private investment firm specialising in leveraged buyouts and investments. Autobar makes plastic packaging for the food, drink, health, and home and personal care sectors.The sale marks another shift of portfolios in Europe’s packaging sector, as well as the importance of packaging within the region to the global market. Currently two European companies and a New Zealand investor are in a billion euro bidding war to gain control of beverage packaging giant SIG Holding.

Dave Edwards, Autobar’s chief executive, said the financial clout of the new parent company would be able to help support the company in a competitive market.

” We are confident that the financial resources and operating experience of the purchaser will support our management team in a measurable fashion by strengthening Autobar Packaging’s value proposition and by re-positioning our strategic operating plan to capitalise fully on a wide range of new growth opportunities,” he said.

Autobar, which is headquartered in Lyon, has fifteen production plants in Germany, the Netherlands, Spain, France, UK, Poland, and Bulgaria.

Autobar Packaging operates through three business units. Veriplast International makes plastic cups, glasses, and trays. Autobar Rigid Packaging makes thin wall plastic packaging for dairy and other food segments. Autobar Flexible Packaging makes consumer bags, pallet wrap, printed shrink film, food packaging, refuse bags, and envelopes.

The companies did not disclose the terms of the sale.

Autobar Packaging has an annual turnover of about €380m, and employs 2200 staff.