Ontario Teachers’ buys majority stake in blow molder Logoplaste
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Headquartered in Portugal, Logoplaste makes plastic bottles and containers for water, milk, ketchup, shampoo and lubricants.
The Ontario Teachers’ Pension Plan Board – once the majority owner of Maple Leaf Sports and Entertainment – is now the majority owner of Portugal-based blow molder Logoplaste SA.
Ontario Teachers’ acquired the majority stake in Logoplaste from investment firm Carlyle Group, officials said in a Feb. 26 news release. Current Logoplaste shareholders and executives Filipe de Botton and Alexandre Relvas will retain their approximately 40 per cent stake in the firm.
The financial terms of the deal were not disclosed.
Logoplaste was founded in 1976, and makes plastic bottles and containers for water, milk, ketchup, shampoo and lubricants, and supplies to Danone, Nestle, Arla, Kraft Heinz, P&G and L’Oreal among others.
In its news release, Ontario Teachers’ said that Logoplaste’s business model “centres on the development of strong and long-standing partnerships with customers through dedicated facilities, fully integrated within the customer’s premises, eliminating secondary packaging waste, just-in-time operations and significantly reducing transport needs.” The company’s activities in North America have more than tripled in the last five years, the news release continued, while in Europe the business has continued to expand.
The deal comes six months after Logoplaste launched what it called a strategic review of its business in August 2020, to prepare the company “for its next phase of growth”.
Ontario Teachers’ is Canada’s largest single-profession pension plan and a major global private equity investor. The board has invested in more than 500 companies and funds since 1991.