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

Eriks NV buys two US polymer companies

April 24, 2015 10:38 am ET

Dutch company Eriks NV is expanding its reach in the North American plastics sector with two acquisitions: Dallas-based Seals and Packings Inc. and...    More

Image

Danish packaging firm Faerch buys UK's Anson as part of growth strategy

April 24, 2015 9:37 am ET

Denmark-based packaging company Faerch Plast A/S has acquired Ely, United Kingdom-based Anson Packaging Ltd., a move the company says “should...    More

Image

Reifenhäuser acquires German spinneret company Enka Tecnica

April 17, 2015 9:31 am ET

Germany-based Reifenhäuser GmbH & Co. KG, a major manufacturer of extrusion equipment, has announced that it is acquiring Enka Tecnica GmbH, a German ...    More

Image

Spain's Grupo Antolin to buy Magna's interiors business

April 16, 2015 12:33 pm ET

Spain's Grupo Antolin has reached an agreement to purchase Canadian auto supply giant Magna International Inc.'s interiors unit in a deal valued at...    More

Image

Madison buys Ferry Industries

April 16, 2015 5:22 pm ET

Ferry Industries, the largest manufacturer of rotational molding machinery, was purchased by Madison Industries, a Chicago holding company that is the...    More

Market Reports

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

Injection Molding Market Analysis & Processor Rankings

Plastics News BUNDLED package contains our in-depth Market Analysis of the Injection Molding segment. You will gain keen insight on current trends and our economic outlook.

As a BONUS this includes PN's updated 2014 database of North American Injection Molders RANKED by sales volume. Sort, merge, mail & prospect by end market, materials processed, region, # of plants and more.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

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

September 15, 2015 - September 17, 2015Plastics Caps & Closures - September 2015

More Events