A new company, Rotovia, has purchased Evansville, Ind.-based Berry Global Group Inc.'s rotational molding business to form an international supplier of rotomolded products.
"Rotovia will operate a lean head office in Europe and no material changes are planned on current manufacturing footprint," Daði Valdimarsson, CEO of Rotovia, told Plastics News in an emailed statement.
"Our intention is to grow the company both externally and internally and our plan is to invest in expanding the sales organization for our well-known proprietary products," Valdimarsson said. "Some of our plants are running tight on capacity and we will react on that soon to continue to serve our customers. No downsizing is foreseen as all main market segments are showing strong demand."
Rotovia declined to comment on the cost of the acquisition.
"It's great to see the ownership of the business coming back to Iceland where a significant part of the business and top management is located," Valdimarsson added.
Rotovia is owned by Icelandic private equity funds Freyja and SÍA IV and key management of the rotomolding plastics operations, a June 7 news release said.
Rotovia now has 14 operations in 10 countries in Europe and Canada, the release said. It employs about 800.
The new company will have annual sales of about 134 million euros ($143 million).
"Under the new ownership, Rotovia plans to continue to build important long-term relationships with customers, invest further in automation and proprietary products, with increased emphasis on sustainable products," it said. "Rotovia will have a strong global footprint through a wide sales office network and serve a diversified customer base across several end industries, with specific focus on the food segment."
The business, once Promens Group AS, was purchased by Rushden, England-based RPC Group plc in 2014.
Berry Global purchased RPC Group in March 2019.
Berry Global also recently sold Australia-based Synergy Packaging, to PACT Group Holdings Ltd., a June 4 news release said. Synergy manufactures PET and high density polyethylene plastic packaging, bottle containers, jars and bottle caps.