After acquiring 95.3% of the shares in Hungarian packaging group Pannunion, which comprises several companies in Hungary, Romania, Serbia and Ukraine – see Plasteurope.com of 01.06.2011 – US investment firm Sun Capital Partners (Boca Raton, Florida; www.suncappart.com) reportedly has exercised its right for a squeeze-out of the remaining shares through Pannunity, a company specifically founded for that purpose.

Local media report that the US investment firm obtained 98.8% of Pannunion’s voting rights through a public purchase offer made in October 2011. Having decided in favour of the squeeze-out, Pannunity now reportedly will buy the outstanding Pannunion shares at HUF 210.32 (about EUR 0.7) per share, with shareholders allowed to transfer their stake between 27 October and 4 November 2011.

Sun Capital has been on a virtual plastics acquisition spree this year (see also Plasteurope.com of 04.10.2011). In January, the Florida-based group acquired the European rigid plastic consumer goods packaging operations of Finnish speciality packaging manufacturer Huhtamaki (Espoo; www.huhtamaki.com) – see Plasteurope.com of 05.01.2011. Just a few months later, Sun Capital bought UK flexible plastic packaging specialist Britton Flexibles (Winsford, Cheshire; www.brittongroup.com) – see Plasteurope.com of 18.04.2011. The investment company’s latest two acquisitions are Austrian film manufacturer Unterland Flexible Packaging (Langkampfen, Kufstein; www.unterland.at) – see Plasteurope.com of 09.08.2011 – and the Kobusch-Sengewald (Warburg / Germany; www.kobusch-sengewald.com) specialised flexible packaging film business of Belgium’s Pregis (Wellen; www.pregis.com) – see Plasteurope.com of 18.10.2011.