LOGOPLASTE
Portuguese packaging supplier has new majority shareholder / Further acquisitions planned
 The company’s main facility in Cascais / Portugal (Photo: Logoplaste) |
The US investor Carlyle Group said it has sold its majority stake in Portugal’s Logoplaste (Cascais; www.logoplaste.com) to the Canadian pension fund Ontario Teachers’ Pension Plan Board. The other Logoplaste shareholders, company chairman Filipe de Botton and Alexandre Relvas, plan to keep their roughly 40% stake in the supplier of dimensionally stable packaging, Carlyle said.
The US group took a majority stake in Logoplaste in October 2016. Company has shown strong growth over the past five years and has taken a majority stake in Poland’s Masterchem (Zielona Góra; www.mch.com.pl; see Plasteurope.com 28.11.2019). In addition, according to information from Ontario Teachers, company sales in North America have more than tripled in the past five years.
Meanwhile, Reuters news agency reported that Carlyle sold the stake for USD 1.7 bn (EUR 1.4 bn). This follows a purchase price five years ago of around EUR 660m, according to Bloomberg news service. The partners provided no information on the purchase price.
“This marks an exciting new chapter for our company as we look forward to the continued growth opportunity for Logoplaste and its customers with backing from Ontario Teachers,” said Logoplast CEO Gerardo Chiaia. The company has 62 production sites in 16 countries: Brazil, Belgium, Canada, Czech Republic, France, Italy, Poland, Mexico, Netherlands, Portugal, Russia, Spain, Ukraine, Great Britain, the US and Vietnam. The latest turnover was more than EUR 500m.
Reports about the Carlyle Group wanting to part with its share package emerged last year (see Plasteurope.com 25.08.2020). At the time, CEO Chiaia commissioned consulting firm Bain & Company to conduce a strategic review with the consideration of possibly restructuring the company.
Chiaia is said to be planning further acquisitions, particularly in the US but also in Europe. The company continues to focus on the local production of packaging in the facilities of purchasers and fillers, which currently applies to around three-quarters of company factories. Customers include Coca-Cola, Kraft Heinz, Nestlé and Procter & Gamble.
The US group took a majority stake in Logoplaste in October 2016. Company has shown strong growth over the past five years and has taken a majority stake in Poland’s Masterchem (Zielona Góra; www.mch.com.pl; see Plasteurope.com 28.11.2019). In addition, according to information from Ontario Teachers, company sales in North America have more than tripled in the past five years.
Meanwhile, Reuters news agency reported that Carlyle sold the stake for USD 1.7 bn (EUR 1.4 bn). This follows a purchase price five years ago of around EUR 660m, according to Bloomberg news service. The partners provided no information on the purchase price.
“This marks an exciting new chapter for our company as we look forward to the continued growth opportunity for Logoplaste and its customers with backing from Ontario Teachers,” said Logoplast CEO Gerardo Chiaia. The company has 62 production sites in 16 countries: Brazil, Belgium, Canada, Czech Republic, France, Italy, Poland, Mexico, Netherlands, Portugal, Russia, Spain, Ukraine, Great Britain, the US and Vietnam. The latest turnover was more than EUR 500m.
Reports about the Carlyle Group wanting to part with its share package emerged last year (see Plasteurope.com 25.08.2020). At the time, CEO Chiaia commissioned consulting firm Bain & Company to conduce a strategic review with the consideration of possibly restructuring the company.
Chiaia is said to be planning further acquisitions, particularly in the US but also in Europe. The company continues to focus on the local production of packaging in the facilities of purchasers and fillers, which currently applies to around three-quarters of company factories. Customers include Coca-Cola, Kraft Heinz, Nestlé and Procter & Gamble.
02.03.2021 Plasteurope.com [247091-0]
Published on 02.03.2021