U.S. private equity firm Sun Capital Partners is aiming to take over Autobar Packaging, the European rigid and flexible plastics packaging and food-service product manufacturer.
Sun Capital of Boca Raton, Fla., has informed European Union antitrust authorities of its plan to buy Lyon, France-based Autobar from Acorn Netherlands ZBV, part of Charterhouse Capital Partners LLP.
London-based buyout specialist Charterhouse acquired Autobar Group, which also has vending/food-service and distribution businesses, in July 2004.
Autobar Packaging, with annual sales of around 380 million euros ($499 million) and a 2,200-strong workforce, runs 15 plants in seven European countries. It has three business units: Veriplast International, a supplier of drink and food-service products; Rigid Packaging, an injection molder and thermoformer of containers for food and health-care markets; and Flexible Packaging, which extrudes film and converts flexible packaging.
The company operates rigid packaging plants in France, Germany and Spain; and flexibles facilities at five French sites. Veriplast has plants in Britain, France, the Netherlands, Poland and Bulgaria.
Sun Capital already has one flexible packaging business within its portfolio. Exopack Holding of Battle Creek, Mich., makes mono and multilayer film, vacuum pouches and roll stock for stand-up reclosable pouches and bag-in-box applications.