US-based rigid plastics packaging manufacturer Consolidated Container Company (CCC) has been acquired by affiliates of private investment firm Bain Capital Partners.
CCC specialises in customised mid- and short-run packaging for the dairy, water, beverage, food, household chemical, automotive, and industrial chemical markets. With headquarters in Atlanta, Georgia, its 59 manufacturing plants and 2,100 employees produce about seven billion containers a year.
It wasn’t revealed how much Bain paid Vestar Capital Partners and other investors in the deal. Financial information about CCC wasn’t provided, but the last year for which sales figures were made available in 2006 its turnover was US$857 million. The transaction is expected to close during the third quarter of 2012.
“We are very proud of the customer solutions we provide, and of our ability to understand and respond to the needs of customers with innovative solutions and reliable processes,” said Jeffrey Greene, CCC’s chief executive.
“With the support and resources of Bain Capital, we are excited to continue to expand our capabilities and customer base through investment in product development, technology, greenfield facilities and acquisitions.”
Seth Meisel, a managing director at Bain Capital, said: “We are very excited to be partnering with CCC and its management team to support the company in its future growth.”
“We are impressed by the success CCC has demonstrated in offering solutions that deliver a high level of customer satisfaction, its industry-leading design and R&D capabilities, and its well-run manufacturing network.”