Berlin Packaging LLC is gaining a new investor that will spend half a billion dollars to get involved with the rigid packaging distributor.
Canada Pension Plan Investment Board has reached an agreement to invest $500 million in the packaging distributor. Oak Hill Capital Partners, a private investment firm, and management will continue to be investors.
The management team, including CEO Andrew Berlin, also will be making what is being described as an additional "significant investment." Those terms were not disclosed.
Oak Hill first invested in Chicago-based Berlin Packaging in 2014. The company distributes a variety of packaging, including plastic products. Annual sales are $1.4 billion.