Portugal-based global blow molder Logoplaste SA is potentially seeking new owners as part of a next phase of growth for the company.
The Carlyle Group Inc. acquired a 60 percent stake in the maker of rigid packaging in 2016, but the group has now hired Barclays plc and Goldman Sachs to evaluate alternatives, according to an Aug. 11 release from Logoplaste. At the time of the purchase, Logoplaste reported 2015 sales of $554 million and employs about 2,300 people across four continents.
According to a Bloomberg report, the shares would be an estimated $1.2 billion.
The financial groups will advise CEO Filipe de Botton and co-CEO Alexandre Relvas, who hold 40 percent in shares of the company, on potential partners to support a long-term strategy.
Logoplaste makes packaging for a wide range of brands including Coca-Cola, Kraft Heinz Co., Diageo plc, L'Oreal SA, Nestlé and Procter & Gamble, to name a few.
In recent years, Logoplaste has expanded the business in North America and abroad. Most recently, the company announced plans to build a $35 million plant in Northwest Ohio. The company also acquired majority shareholding in Poland's Masterchem.
Logoplaste was founded in 1976 and does primarily blow molding for it's various rigid package designs. The company has 62 factories in 16 countries.