Constar's British operations sold to private investment group

Anthony Clark
PRW

Published: February 26, 2014 10:15 am ET
Updated: February 26, 2014 10:16 am ET

Related to this story

Topics Mergers & Acquisitions, Beverage (soda, 1 liter), Beverage (soda, 2 liter), Beverage (soda, 3+ liter), Beverage (soda, single serve), Beverage (still water)
Companies & Associations Constar International LLC

The British arm of Constar International Holdings LLC has been purchased by Sherburn Acquisitions for 4.3 million pounds ($7.1 million) after its U.S. parent collapsed into bankruptcy following the loss a contract with PepsiCo.

According to Deloitte, which handled the administration for the English blow molding unit, based in Leeds, firm there remains profitable and will retain all its 140 employees. Turnover was around 80 million pounds ($133 million) for the last full year of trading.

The sale ends a period of uncertainty for the employees and other key stakeholders after the Constar Group, including Constar UK, entered Chapter 11 bankruptcy proceedings in December 2013.

Dan Butters, a joint administrator at Deloitte, said: "Having worked with the company and its key stakeholders in challenging circumstances over the last couple of months we are delighted to announce the going concern sale of the Constar UK business, which preserves a significant number of jobs in the local region."

The U.S. operation was purchased by Plastipak Packaging Inc. for $102.45 million.

Sherburn, an acquisition vehicle set up to handle the Constar purchase, is associated with Greybull Capital, which previously worked with troubled retailers Game and Comet.


Comments

Constar's British operations sold to private investment group

Anthony Clark
PRW

Published: February 26, 2014 10:15 am ET
Updated: February 26, 2014 10:16 am ET

Post Your Comments


Back to story


More stories

Image

Indian auto parts maker set to buy assets in Germany, Mexico

December 18, 2014 10:35 am ET

Indian auto parts maker Samvardhana Motherson Gropup is buying the assets of insolvent German plastics car parts producer Scherer & Trier (S&T).    More

Image

Sweden's Indutrade buys Belgian packaging firm Verbeek

December 18, 2014 9:42 am ET

Sweden's Indutrade AB has purchased all the shares in Belgium's Verbeeck Packaging Group.    More

Image

Röchling buys two UK firms

December 18, 2014 9:24 am ET

Germany's Röchling Engineering Plastics SE & Co. KG has expanded its presence in the high-performance plastics market by acquiring two British firms...    More

Image

UK recycler Eco Plastics sold to German investment group

December 12, 2014 11:19 am ET

Recycler Eco Plastics has been bought by Aurelius AG, a Grünwald, Germany-headquartered investment firm, for an undisclosed sum.    More

Image

Resin distributor Biesterfeld Plastic buys out partner in Biesterfeld Nordic

December 11, 2014 12:21 pm ET

Hamburg, Germany-based Biesterfeld Plastic GmbH, a distributor for the European plastic and rubber industry, announced that it has bought the shares o...    More

Market Reports

Flexible Packaging Trends in North America

Our latest RESEARCH report examines trends in FLEXIBLE PACKAGING impacting the North American market including a review of economic conditions, key drivers of growth, materials pricing, M&A activity, sustainability challenges and the outlook for 2015.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 billion plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events