Linpac completes sale of US division Ropak
Linpac Packaging has completed the $265m sale of its US rigid plastic packaging division Ropak
A short statement from the business this morning confirmed that the deal to sell the bulk container business to BWAY Corporation,which was first announced in December, had completed.
Following the announcement of the deal in December, Linpac Packaging outlined plans to concentrate on its European business.
BWAY Corporation was bought by private equity group Platinum Equity in November last year, just a month before the Ropak deal was announced. Platinum Equity is also the owner of Contego Packaging in the UK.
Today’s statement said: “The disposal is in line with the strategy of the Group to focus on its European consumer packaging business, LINPAC Packaging, and significantly reduces the Group’s net debt.”
The deal is the latest in a series of recent disposals by Linpac, which have included the sales of its Australian arm Viscount in August last year and its transit packaging arm Allibert last January.
