Airpack strikes deal to buy Pregis' European operations

By Jim Johnson
Senior Staff Reporter

Published: May 1, 2014 3:51 pm ET
Updated: May 1, 2014 3:57 pm ET

Related to this story

Topics Mergers & Acquisitions, Europe, Film & Sheet

Another chunk of Pregis Corp., this time its European operations, is being sold off.

Less than two weeks after announcing the sale of its North American business, the protective packaging and systems company now has struck a deal with Airpack SpA for the company’s European operations.

Airpack, of Lodi, Italy, previously had purchased Pregis’ business in Italy.

This new deal includes Pregis facilities in the Belgium, Czech Republic, Germany, Hungary, Poland, Romania and United Kingdom. Manufacturing includes foam and bubble extrusion, engineered foam and mailers, Pregis said.

Terms of the deal were not disclosed.

“We are pleased to be able to reunite the Italian business unit with the rest of the European operations.  We now will have the support of more than 1,000 employees who will assist us in providing protective packaging solutions to the United Kingdom and across the entire European continent,” said Sergio Folli, managing director of Airpack, in a statement.

Pregis owner AEA Investors LP, a private equity firm, revealed April 22 plans to sell the company’s 14 North American operations for an undisclosed amount to Olympus Partners, a Stamford, Conn.-based private equity firm.

Those sites make a variety of protective packaging, including bubble air cushioning, mailers, sheet foam, protective film, engineered foam, foam-in-place and specialty products. The company also has a line of paper packaging systems.

AEA Investors created the Pregis brand when that private equity firm acquired the flexible and protective businesses of Pactiv Corp. in 2005 for approximately $530 million. The company, founded in 1968, calls itself a pioneer in private equity. The firm was created through the Rockefeller, Mellon and Harriman families and S.G. Warburg & Co.


Comments

Airpack strikes deal to buy Pregis' European operations

By Jim Johnson
Senior Staff Reporter

Published: May 1, 2014 3:51 pm ET
Updated: May 1, 2014 3:57 pm ET

Post Your Comments


Back to story


More stories

Image

Ferro sells another piece of its plastics business

December 19, 2014 3:33 pm ET

Ferro Corp. has sold its North American polymer additives business to a private equity firm for $154 million in cash.    More

Image

Alex Brands buys iconic Shrinky Dinks toys

December 19, 2014 3:15 pm ET

First Slinky, now Shrinky Dinks. What will toy and games investment firm Alex Brands buy next?    More

Image

Thailand's SCG Chemicals buying Norwegian chemical firm Norner

December 19, 2014 9:11 am ET

Thailand's SCG Chemicals Co. Ltd. has announced it has acquired 51 percent of the shares in the independent petrochemical company Norner Holding AS...    More

Image

BASF to sell its share in Singapore JV

December 19, 2014 8:37 am ET

BASF SE has announced that it has reached an agreement for it to sell its share in the 50-50 joint venture ELLBA Eastern, at Jurong Island, Singapore ...    More

Image

Amcor buys Chinese flexible packaging plant

December 18, 2014 1:47 pm ET

Australian-based global packaging company Amcor Ltd. is buying a Chinese flexible packaging business for 211 million RMB (US$31.4 million).    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 in Brazil - State of the Industry Report

This in-depth report examines the Brazilian plastics industry from a historical and geographical context. Our analysts provide insight on economic trends and forecasts, growing manufacturing sectors that utilize plastics, private investment opportunities, market environment challenges, and innovations in R&D.

Data tables and charts on producer prices, trade, plastics production and end market indicators is also included.

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

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