Scott Edwards, managing director at Sun Capital Partners, said that the timing was right to form the sixth-largest plastic packaging company in the world.
"We felt there was tremendous opportunity to bring together the organizations and better serve a global customer base," he told PlasticsToday. "These businesses fit together, serving either flexible or rigid packaging, and many serve the same customers."
Last week, Sun Capital announced that five of its packaging companies in North America and Europe will combine to operate under the banner of Exopack Holdings Sarl. The combined business will have 63 plants, 8650 employees and aggregate revenues of more than $2.5 billion.
Joining Exopack, a U.S.-based producer of flexible paper and plastic packaging and advanced coatings, will be four companies based in Europe: Britton Group, a flexible plastic packaging manufacturer; PACCOR, the second-largest rigid plastic packaging company in Europe; Kobusch, a producer of tailor-made flexible and rigid packaging systems; and Paragon Print & Packaging, a provider of private label packaging solutions in the UK.