Private equity firm Lindsay Goldberg Vogel GmbH is buying German plastic packaging manufacturer Weener Plastik AG.
The deal, which is pending approval from antitrust authorities, will help Weener pursue its global expansion plans, according to a news release from the Weener, Germany-based company.
The company makes sealing caps, valve caps, beverage caps, plastic bottles, jars, dispensers and dosing systems. Its products are designed and produced for home-care, chemical, pharmaceutical, personal-care and food and beverage markets.
Weener has production locations in 21 countries. The company made its U.S. debut in 2006, when it opened a plant in Wilson, N.C. The 50,000-square-foot facility was part of Weener's acquisition of Euro-Matic Group Ltd. of South Greenford, England, in November 2005.
Weener invested about $5 million to renovate the site. The facility remains the company's only U.S. location and it produces primarily injection molded closures.
The company also has plants in Hungary, Spain, Ireland, Russia, Mexico and Brazil.
The news release said the new owner will retain Weener's 1,200 jobs, and the change in ownership will not affect its focus on healthy growth and strengthening its market position.
Lindsay Goldberg Vogel is the central European representative of Lindsay Goldberg LLC, which is based in New York.