It looks like Germany’s Weener Plastic Packaging Group (Weener; www.wppg.de) could soon have a new owner. Citing insiders, Reuters reports that private equity group Lindsay Goldberg (New York / USA; www.lindsaygoldbergllc.com), which first acquired Weener in 2012 (see Plasteurope.com of 08.02.2012) is now planning a divestiture. The US group is reportedly hoping to sell Weener – which is expected to post revenues of EUR 275m and an EBITDA of EUR 50m this year – for about EUR 400m.

Reuters says other buyout specialists, including CD&R, Ardian, Charterhouse and Bain have already handed in tentative bids, adding that Weener’s competitors – which include Silgan, Berry, RPC, Alpla and Lawco – also showed interest.

Following its 2012 acquisition of the company, Lindsay Goldberg significantly expanded Weener’s activities, including integrating competitor Plasticum into Weener (see Plasteurope.com of 24.06.2013). In addition, late last year Weener acquired the remaining shares of Weener Empire in India, bringing the number of its global production facilities to 31 (see Plasteurope.com of 13.01.2014).