Sun European Partners has announced that one of its affiliates has completed the acquisition of producer and processor of plastic packaging Kobusch-Sengewald from Pregis in a deal worth €160m.
Earlier in October 2011, Pregis, the global provider of protective packaging and a wholly-owned subsidiary of Pregis Holding, announced a definitive purchase agreement to sell its business unit to Sun European Partners.
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Pregis will use the proceeds from the deal to repay a share of its asset-based lending facility and otherwise retain for debt repayment, general corporate purposes and future reinvestment.
Kobusch-Sengewald reported sales of €211.6m for the full year 2011 and adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of €24.8m.
The unit operates six manufacturing sites, with one in Egypt, two in Germany, and three in the UK.
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Sun European Partners’ affiliates have invested in over 280 companies worldwide with combined sales in excess of $45bn since the inception of Sun Capital Partners.
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By GlobalDataKobusch Sengewald provides plastic-based flexible and semi-rigid packaging solutions to the food, chemical, hygiene product and medical sectors. The company’s range of manufactured products includes flexible films, ready-made bags, pouches and sleeves.
