Navigation Links
Pregis Announces Sale of Kobusch-Sengewald Business to an Affiliate of Sun European Partners
Date:10/14/2011

DEERFIELD, Ill., Oct. 14, 2011 /PRNewswire/ -- Pregis Corporation, a leading international manufacturer, marketer, and supplier of protective packaging products and specialty packaging solutions, announced today that it has entered into a definitive purchase agreement to sell its Kobusch-Sengewald business unit to Sun European Partners, LLP ("Sun European Partners"), the European adviser to Sun Capital Partners, Inc., for gross proceeds of euro 160 million. Sales of the Kobusch-Sengewald business for the twelve months ended September 30, 2011 were euro 211.6 million, with adjusted EBITDA (before unallocated corporate expenses) of euro 24.8 million. The proceeds from the transaction will be used to repay a portion of Pregis' asset-based lending facility and will be otherwise retained for debt repayment, general corporate purposes, and future reinvestment.

Kobusch-Sengewald is a leading supplier of specialized flexible packaging films for the food, consumer goods, and medical industries, along with semi-rigid and rigid packaging solutions for the high-end food market. Kobusch-Sengewald operates six manufacturing sites, with two in Germany, three in the U.K., and one in Egypt.  

Commenting on the transaction, Glenn Fischer, President and Chief Executive Officer of Pregis, stated, "I am pleased to announce the sale of our Kobusch-Sengewald business.  We wish the best of luck in the future to Borge Kvamme and his management team and I am confident the business will continue to thrive under its new ownership."

William Blair & Company LLC served as sell-side advisor to Pregis.

About Pregis:

Pregis Corporation is a leading global provider of innovative protective, flexible, and foodservice packaging and hospital supply products. The specialty-packaging leader currently operates 46 facilities in 18 countries around the world.  Pregis Corporation is a wholly owned subsidiary of Pregis Holding II Corporation. For more information about Pregis, visit the Company's web site at www.pregis.com.

About Sun European Partners, LLP:

Sun European Partners, LLP is the European adviser to Sun Capital Partners, Inc., a leading U.S.–based private investment firm focused on leveraged buyouts, equity, debt, and other investments in market–leading companies that can benefit from its in–house operating professionals and experience. Affiliates of Sun Capital Partners, Inc. have invested in over 270 companies worldwide with combined sales in excess of $40 billion since the inception of Sun Capital Partners, Inc. in the U.S. in 1995. Sun Capital Partners, Inc. has offices in Boca Raton, Los Angeles, and New York, as well as affiliates in London, Frankfurt, Paris, Luxembourg, Shanghai and Shenzhen. For more information, please visit www.SunEuropeanPartners.com

Safe Harbor Statement:

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. You can generally identify forward-looking statements by the Company's use of forward-looking terminology such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "potential," "predict," "seek," "should," or "will," or the negative thereof or other variations thereon or comparable terminology. These forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond the Company's control. For a discussion of key risk factors, please see the risk factors disclosed in the Company's annual report, which is available on its website, www.pregis.com. These risks may cause actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. Given these risk and uncertainties, you are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof. The Company undertakes no duty to update its forward-looking statements.


'/>"/>
SOURCE Pregis Corporation
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Lifebox Global Not-For-Profit Announces American Society of Anesthesiologists Joins Campaign to Improve Surgical Care in Developing Countries
2. Mindray Announces Expansion of its A Series Anesthesia Portfolio
3. Higher Mobility Announces Residential Lift Briefing Sessions for Physical Therapists, Caseworkers, Social Workers, Skilled Nurses
4. EMKinetics Announces Start of Pivotal Trial for the TranStim™ Transdermal Neuromodulation System
5. ShangPharma Corporation Announces Shareholder Resolutions Adopted at 2011 Annual General Meeting
6. ShangPharma Corporation Announces Resignation of a Director
7. Sterling Health Plans Announces Medication Therapy Management Program Partnership
8. Oncobiologics, Inc. Announces Two New Agreements Worth Close to $80 Million
9. Telik Announces Initiation of a Phase 2b Clinical Trial of Telintra® (Ezatiostat HCL) in Patients With Low to Intermediate-1 Risk Non-Deletion (5q) Myelodysplastic Syndrome
10. ULURU Inc. Announces Altrazeal® Agreement for the European Market
11. Mylan Announces Intention to Refinance Existing Secured Credit Facility
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/24/2017)... 24, 2017 IBM (NYSE: IBM ) has ... for Solid-State Arrays (SSA) for the fourth year in a ... to Gartner, "Vendors in the Leaders quadrant have the highest ... A vendor in the Leaders quadrant has the market share, ... acceptance of new technologies. These vendors demonstrate a clear understanding ...
(Date:7/21/2017)... Did you know that PhRMA member companies invested $65.5 ... spending on brand medicines, generics and the supply chain account for ... just half of this (7 percent)? Or that the ... venture capital investments in high-growth biopharmaceutical startups? ... The biopharmaceutical ...
(Date:7/14/2017)... 14, 2017 Endo International plc (NASDAQ: ENDP ... 8, 2017.  Members of its senior management team will host a ... 8:30 a.m. ET. The dial-in number to access ... (678) 509-7598, and the passcode is 45397076. Please dial in 10 ... A replay of the call will be available ...
Breaking Medicine Technology:
(Date:7/25/2017)... ... July 25, 2017 , ... ... provider in the United States, today announced its partnership with financial technology company, ... , The foundation of the solution lies within Hyosung’s superior ATMs, assisted self-service ...
(Date:7/24/2017)... , ... July 24, 2017 , ... Engineers at the ... because it produces the same kind of electrical energy that the body uses. ... of moving electrons. This flow of electrons out of the battery is generated by ...
(Date:7/24/2017)... , ... July 24, 2017 , ... ... federal Substance Abuse and Mental Health Services Administration’s (SAMHSA) State Targeted Response to ... Department of Health Care Services, will facilitate the development of a hub and ...
(Date:7/24/2017)... ... 2017 , ... Every year, thousands of dedicated Higher Education and K12 professionals ... is coupled with a dynamic theme like Camp Canvas; this year, they’ve managed to ... , To extend their partnership with Canvas beyond the LMS integration, Modo Labs ...
(Date:7/24/2017)... Solana Beach, California (PRWEB) , ... July 24, ... ... and commercialization of autologous fat (adipose) transfer systems announces the issuance of United ... (the ‘324 patent) for its adipose filtration technology. The '398 and '324 ...
Breaking Medicine News(10 mins):