Confirming earlier media reports (see Plasteurope.com of 22.07.2016), investor BC Partners (London / UK; www.bcpartners.com) on 28 July issued a press release saying it had agreed to acquire Israeli plastic consumer goods producer Keter Plastic (Herzliya; www.keter.com). Another investor, Canada’s Public Sector Pension Investment Board (PSP Investments, Montreal, Quebec; www.investpsp.com), will also own a share in the Herzliya-based company. Keter’s founding family, the Sagols, will retain a minority stake, and reinvest in it alongside BC Partners.

Financial details of the transaction, which is expected to close in Q4 this year pending all necessary regulatory approvals, were not disclosed. However, earlier media reports indicated that the deal values Keter at USD 1.7 bn. Commenting on the purchase, BC Partners’ managing partner Jean-Baptiste Wautier said the group looks forward to pursuing Keter’s existing “ambitious growth strategy.”