An Affiliate of Sun European Partners Acquires Autobar Packaging Group
Dave Edwards, CEO, Autobar Packaging Group, stated, "We are very pleased that an affiliate of Sun Capital Partners has acquired Autobar given Sun Capital's deep understanding of the packaging industry.
06/01/07 LONDON, UK Sun European Partners, LLP ("Sun European Partners"), the European adviser to Sun Capital Partners, Inc. ("Sun Capital"), a leading private investment firm specializing in leveraged buyouts and investments in market-leading companies, announced that one of its affiliates has acquired Autobar Packaging Group ("Autobar"), one of Europe's leading manufacturers of plastic packaging products, used mainly in the food, drink, health, and home and personal care sectors. Terms of the transaction were not disclosed.
Autobar Packaging offers innovative products across many applications through its three business units: Veriplast International (plastic cups, glasses, and trays), Autobar Rigid Packaging (thin wall plastic packaging for the dairy and other food industries), and Autobar Flexible Packaging (free standing consumer bags, pallet wrap, printed shrink film, food packaging, refuse bags, and envelopes). Autobar Packaging has fifteen production facilities in seven countries (Germany, the Netherlands, Spain, France, UK, Poland, and Bulgaria). For more information, please visit Autobar Packaging's website at www.autobarpackaging.com.
Dave Edwards, CEO, Autobar Packaging Group, stated, "We are very pleased that an affiliate of Sun Capital Partners has acquired Autobar given Sun Capital's deep understanding of the packaging industry. We are confident that the financial resources and operating experience of the purchaser will support our management team in a measurable fashion by strengthening Autobar Packaging's value proposition and by re-positioning our strategic operating plan to capitalize fully on a wide range of new growth opportunities."
Jason H. Neimark, Managing Director, Sun Capital Partners, Inc., added, "Autobar Packaging is one of Europe's leading manufacturers of plastic packaging products. We look forward to working with Autobar Packaging's management team and dedicated employees in advancing the Company's performance to the next level and enhancing its product quality and customer service."
