Onex completes SIG Combibloc acquisition for €3.75bn

15 March 2015 (Last Updated March 15th, 2015 18:30)

Private equity firm Onex Corporation has completed the acquisition of SIG Combibloc Group from Reynolds Group, in a previously announced deal worth €3.75bn.

Private equity firm Onex Corporation has completed the acquisition of SIG Combibloc Group from Reynolds Group, in a previously announced deal worth €3.75bn.

A part of the New Zealand-based Rank Group, SIG Combibloc will now be completely owned by Onex and SIG's management team.

In November last year, Rank Group and Onex have signed an agreement to this effect.

"We look forward to partnering with Rolf Stangl and his team to further build upon SIG's impressive track record and continue its growth."

Onex Corporation managing director Nigel Wright previously said: "SIG's management team has successfully proven its ability to enter and grow in new markets, while maintaining its standards of excellence in existing markets.

"We look forward to partnering with Rolf Stangl and his team to further build upon SIG's impressive track record and continue its growth."

Headquartered in Switzerland, SIG Combibloc provides aseptic beverage cartons and packaging equipment for beverages and liquid food.

SIG Combibloc has operations in 40 countries and employs around 5,100 people, generating around €1,680m in annual sales volume during 2013.

It manufactures beverage cartons for fresh and long-life food products, such as drinks, soups, desserts, and sauces, as well as supplies systems for the corresponding filling machines. It also offers solutions for the production, coating and filling of PET bottles.