Private equity firm Castle Harlan’s Partners V fund has agreed to sell Pretium Packaging to Genstar Capital.
Pretium Packaging, headquartered in Chesterfield, Missouri, is among the nation's largest manufacturers of customised, high-performance rigid plastic bottles and containers. With more than 650 customers, including global consumer packaged goods companies, as well as national, regional and local customers, the Company supplies a wide range of bottles and containers to food, personal-care, household, healthcare and pharmaceutical end markets. The Company currently operates ten manufacturing facilities, nine in the United States and one in Canada, employing more than 1,000 personnel.
Castle Harlan Co-President Bill Pruellage, says: "The past four years have been an excellent and rewarding partnership with Pretium's management team. The company has realised a number of strategic and operational initiatives and is well positioned for continued growth."
Castle Harlan acquired Pretium Packaging in February 2010 in a transaction that also included the acquisition and subsequent merger of PVC Container Corporation, the parent of Novapak Corporation. The sale of Pretium is expected to close in June 2014.
Citigroup Global Markets Inc. acted as exclusive financial advisor to Pretium, and Schulte Roth & Zabel LLP acted as legal advisor.
