The Petainer Group is investing 10 million euros ($11.5 million) in expanding its PetainerKeg products — a plastic alternative to traditional steel beer kegs.
The Czech group announced July 13 that it had secured funds for its growth from shareholder New Wave Partners to support “a substantial increase” in customer demand for the product.
The growth, according to CEO Nigel Pritchard, will support the roll-out of the core PetainerKeg portfolio, the introduction of further PetainerKeg innovations, as well as ongoing research into water coolers, high density polyethylene and polypropylene container packaging.
“The business has continued to deliver strong earnings growth and is experiencing particularly rapid growth of its PET Keg product globally,” explained Jonathan Brod, managing partner of Next Wave Partners.
Petainer is a packaging technology company with proprietary expertise in high stretch polymer engineering.