An affiliate of UK Sun European Partners, LLP, the European adviser to Sun Capital Partners, Inc., has signed an agreement to acquire Kobusch-Sengewald, an international producer and processor of custom-designed plastic packaging from Pregis Corporation. The deal is conditional upon the appropriate regulatory clearances.
Kobusch Sengewald is a leading provider of high value, bespoke, plastic-based flexible and semi-rigid packaging solutions to the food, chemical, hygiene product and medical sectors. The business benefits from its unique technical capabilities, custom-made product offering, and geographical presence providing a “one-stop-shop” of tailored solutions to customers across multiple jurisdictions. Kobusch Sengeweld employs over 1,100 employees across six sites located in Germany, Egypt and the United Kingdom. The Company’s range of manufactured products includes flexible films, ready-made bags, pouches and sleeves.
Borge Kvamme, Chief Executive Officer of Kobusch-Sengewald, says: "We are excited about the prospect of becoming an independent company and building on our leading position in the European plastic packaging market. We will continue to deliver the innovative, tailored products that our clients recognise us for whilst benefitting from the many opportunities for growth that this next phase of ownership will present. The deep knowledge that Sun European Partners has of the international packaging sector will be very valuable as we shape our company in future.”
Philippe Neuschaefer of Sun European Partners, says: "Kobusch-Sengewald is a leading specialist supplier to high-end markets and through its technical know-how and strong innovation capabilities has developed robust, long-term customer relationships. This is our sixteenth packaging transaction in the past five years and we are excited to continue building on our extensive experience in this sector. We are delighted to be supporting the management team at this milestone in the company’s development and believe we can drive growth in both revenue and profitability through our packaging expertise.”
Sun Capital Partners, Inc has significant experience in the packaging industry and since inception affiliates of Sun Capital Partners, Inc. have completed more than 30 acquisitions in the packaging sector. Total combined revenue of affiliated portfolio companies in the packaging sector are in excess of USD4.1 billion and include companies such as Albéa, a global leader in the plastic beauty packaging market; Paccor, a European rigid plastic packaging manufacturer of plastic cups, containers, lids and trays for the dairy, fresh food and edible fats sector, and The Britton Group, a leading provider of flexible packaging solutions in the UK with extrusion, printing, lamination, and conversion capabilities.
