Sun European Partners’ affiliate is in talks to divest its beauty and personal care (BPC) packaging company Albéa.

The potential transaction is valued at $1.5bn, according to media sources.

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Funds advised by PAI Partners would acquire Albéa that provides wide range of solutions for the make-up, fragrance, skincare, personal and oral care markets.

“Sun has been an outstanding shareholder for the past seven years, continuously supporting our business development.”

Albéa operates 38 manufacturing sites across Europe, the Americas and Asia.

It offers plastic and laminate tubes, plastic closures and shells, cosmetic accessories, bags and promotional items.

Albéa CEO François Luscan said: “Sun has been an outstanding shareholder for the past seven years, continuously supporting our business development.

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“We are looking forward to working with our new shareholder as we consolidate our position as the leading provider of solutions to the world’s most prestigious and most dynamic brands, building from our unique combination of customer-focus, operating excellence, large range of products and services, global reach, technical know-how, social responsibility and passion.”

Albéa was acquired by an affiliate of Sun European Partners in 2010.

The company expanded its business by acquiring several companies such as Betts, Eyelematic, Tex and Rexam’s PC business.

Sun European Partners managing director Jerome Nomme said: “We are pleased with the transformation of the company under Sun’s stewardship during a period which has seen an improvement in the financial performance of the company, its operational efficiency and the range of products it offers.”