ATLANTA (May 31, 6 p.m. ET) — Boston private equity group Bain Capital Partners LLC will purchase Consolidated Container Co. LLC, a major packaging blow molder that employs 2,100 people and runs 59 factories in North America.
Bain will buy Consolidated Container from Vestar Capital Partners and other investors, in a deal announced May 31. Terms were not disclosed for the sale, which is expected to close during the third quarter.
“With the support and resources of Bain Capital, we are excited to continue to expand our capabilities and customer base through investment in product development, technology, greenfield facilities and acquisitions,” said Jeffrey Greene, CEO of Atlanta-based Consolidated Container.
Consolidated Container specializes in mid- and short-run packaging, serving a diverse customer base in dairy, water, beverage, food, household chemical, automotive and industrial chemical markets.
Consolidated Container was one of the big packaging container mergers in the 1990s. Vestar Capital Partners, a New York private equity firm, bought Reid Plastics Inc., then acquired a majority stake in the packaging group of Suiza Foods Corp. in 1999 — a blockbuster deal that created the giant new blow molding conglomerate, Consolidated Container.
Before that big mergers-and-acquisition move, both Reid and Suiza Foods had purchased packaging blow molders. Suiza bought dairy bottle maker Garelick Farms Inc. and Continential Can Co. Inc.
Consolidated Container claims to make more than 4 billion bottles a year. According to the most recent Plastics News ranking, Consolidated Container is the fifth-largest blow molder in North America, with sales of $737 million.