US-based Stone Canyon Industries (SCI), through its subsidiary BWAY, has agreed to purchase industrial rigid packaging products supplier Mauser Group from Clayton, Dubilier & Rice (CD&R) for $2.3bn.
Employing around 4,500 people, Mauser currently operates more than 100 manufacturing facilities across 18 countries in Europe, North America, South America and Asia.
The company, which also provides reconditioning services, serves more than 12,500 customers.
Through its subsidiary National Container Group (NCG), Mauser also offers plastic packaging, fibre drums, steel drums, and intermediate bulk containers (IBC) for the pharmaceutical, food and beverage sectors.
BWAY president and CEO Ken Roessler said: “We welcome all of the Mauser employees to the SCI family.
“We look forward to working with Peter Schaefer and the Mauser management team in bringing together two great companies in the packaging and container industry.
“In addition to sales growth, this acquisition expands our product offering with innovative new products which further support the Company’s position as the premier supplier for rigid general line packaging.”
The company currently produces rigid metal and plastic containers for the North American market.
CD&R partner David Novak said: “Mauser is an exceptionally well-positioned business that has delivered strong and consistent performance under our ownership.
“We believe that this transaction will benefit the market position and long-term growth prospects for both companies and prove to be rewarding for their employees and valued customers.”
CD&R acquired Mauser for around €1.2bn in 2014.