Contego Packaging has announced that it has signed a definitive agreement to sell its food and beverage Cartons business to Graphic Packaging Holding Company. The Cartons business includes operations in the UK, the Netherlands and Ireland with sites in Leeds, Gillingham, Hoogerheide and Portlaiose.
The ownership and growth strategy of the Healthcare business of the Contego Packaging Group remains unchanged and continues to remain focused on expansion through organic and acquisitive growth by building on the significant investments that have been made over the past 18 months. During this period, two new factories have been built and major investments made in state-of-the-art printing and folding technology at its ten sites across Europe. “The sale of the Cartons business will allow us to focus even more intensively on growth in the pharmaceutical and healthcare sectors,” said Tom Reid, Contego Packaging CEO.
The change of ownership of the Cartons business was expected to have taken place by the end of 2012.
The Contego Packaging Group, which is owned by Platinum Equity, is one of Europe’s leading and most technically advanced packaging manufacturers. The Cartons division produces high quality and innovative packaging for the food and beverage industry from 4 manufacturing facilities. The pan European Healthcare division operates from ten world class manufacturing sites providing cartons, leaflets, self-adhesive labels and printed foils for blister packs for the pharmaceutical and healthcare markets.
Platinum Equity is a global M&A&O® firm specializing in the merger, acquisition, and operation of companies that provide services and solutions to customers in a broad range of business markets, including information technology, telecommunications, logistics, metals services, manufacturing, and distribution. Since its founding in 1995 by Tom Gores, Platinum Equity has completed over 140 acquisitions.