Real estate and industrials conglomerate Brookfield Business Partners LP has entered the plastics industry by acquiring a controlling interest in Schoeller Allibert Group BV.
Brookfield said May 15 that it acquired a 75 percent stake in Schoeller Allibert, a global producer of returnable plastic crates and containers used in the agriculture, beverage, food, automotive and industrial sectors.
Brookfield paid 205 million euros ($241.9 million) for Schoeller Allibert, headquartered in Hoofddorp, the Netherlands. The remaining interest in the business is retained by the founding Schoeller family. One Equity Partners, an indirect subsidiary of JPMorgan Chase & Co., sold the stake to Brookfield.
Schoeller Allibert is one of Europe's largest producers of returnable plastic packaging systems with more than 1,000 versions of the products used to expedite shipping in a sustainable manner. It was created in 2013 by the merger of Linpac Allibert and Schoeller Arca Systems, both owned by One Equity Partners. The merger boasted more than 40 production and sales operations in Europe, the Americas and Asia. Products include foldable containers, bulk containers, plastic pallets, stackable crates and related goods.
Brookfield, headquartered in Toronto, began business in 1899 to launch Brazil's first electrical and transport utility. Its operations span real estate, infrastructure, renewable power and industrial assets. In the latter category are graphite electrode production, specialty metals and construction products. The firm says it focuses on high-quality businesses that benefit from barriers to entry and/or low production costs. It is listed on the New York and Toronto stock exchanges.
