Brookfield Business Partners has agreed to acquire a 75% interest in Netherlands-based returnable plastic packaging manufacturing company Schoeller Allibert Group from an indirect subsidiary of JPMorgan Chase & Co for €205m ($246.96m).

The remaining 25% stake will be retained by the Schoeller family.

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“The acquisition will enable ProAmpac to expand its manufacturing activities in the western and south-eastern region of the US.”

Brookfield is a private equity firm based in Bermuda.

Flexible packaging manufacturer ProAmpac has acquired paper packaging products manufacturer Bonita Packaging Products.

Bonita will operate as unit of ProAmpac’s US Flexibles Division, following the transaction.

The acquisition will enable ProAmpac to expand its manufacturing activities in the western and south-eastern region of the US.

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Both the companies involved in the acquisition are based in the US.