Protective wrapping producer on the verge of a split up / Selling off of North American activities / Future of European business uncertain
It appears the assorted business activities of US-based Pregis (Deerfield, Illinois; are heading off into different directions. US owner AEA Investors (New York, New York; plans to sell the protective wrapping producer’s North American business up the road to private equity specialist Olympus Partners (Stamford, Connecticut; for an undisclosed sum. The deal is scheduled to be finalised by the end of May. Pregis has 14 locations across the US and a plant in Mexico. Pregis has been owned by AEA Investors since 2005.

“Olympus Partners looks for enterprises that have established a leading market position and have a strong management team. We believe that such companies will enjoy greater long-term value creation and generate superior investment returns. Pregis meets those criteria and we are pleased to add the company to our diverse investment portfolio,” said Manu Bettegowda, a partner at the Connecticut company, adding, “Pregis is well positioned for growth with innovative solutions, expanding markets and solid channel partnerships.”

The company’s current management team, led by Kevin Baudhuin, president and chief executive officer, is to continue under Olympus ownership.

The future of the company’s European business remains unclear for the time being. "More news will follow," was the response given by a spokeswoman for the company when contacted Pregis. The company has seven production sites in Europe including Germany (Bopfingen), Belgium, the UK, Poland, Romania, Czech Republic and Hungary with a total of around 1,000 employees. A production plant in France was shuttered in 2013.
28.04.2014 [228105-0]
Published on 28.04.2014
Pregis: Verpackungshersteller vor AufspaltungGerman version of this article...

© 2001-2020  |  Imprint  |  Privacy is a business information platform for the European plastics industry. It is part of KI Kunststoff Information and PIE Plastics Information Europe, one of the leading content providers for the European plastics industry. We offer daily updated business news and reports, in-depth market analysis, polymer prices and other services for the international plastics industry, including a suppliers guide, career opportunities, a trade name directory and videos.

News | Polymer Prices | Material Databases | Plastics Exchange | Suppliers Guide | Jobs | Trade Names | Videos | Associations & Institutions | Register | Advertising

PIE – Plastics Information Europe | KI – Kunststoff Information | KunststoffWeb | Plastics Material Exchange | Polyglobe | K-Profi
© 2001-2020 by, Bad Homburg
Date of print: 26.05.2020 00:52:43   (Ref: 488670509)
Text and images are subject to copyright and other laws for protection of intellectual property.
Any duplication or distribution in any media as a whole or in parts requires prior written approval by Plasteurope. URL: