GS Capital buys minority stake in Plastipak
Canadian Plastics
Packaging Rigid PackagingAffiliates of GS Capital Partners LLC are buying a minority stake in blow molder Plastipak Holdings Inc., one of North America’s largest manufacturers of plastic packaging containers and preforms.
Affiliates of GS Capital Partners LLC are buying a minority stake in blow molder Plastipak Holdings Inc., one of North America’s largest manufacturers of plastic packaging containers and preforms.
GS Capital Partners LLC and Plymouth, Mich.-based Plastipak announced the agreement May 31. The terms of the deal have not been disclosed.
“My family and the Plastipak management team have built this company over the past half century by partnering with our customers and suppliers,” said Bill Young, founder and CEO. “We look forward to a new partner in the form of GSCP as we execute our strategic vision.”
According to a news release, the Young family will continue to hold a majority stake in Plastipak following the closing of the transaction.
Plastipak’s operations span the U.S., Europe, and Brazil. In fiscal 2011, Plastipak sold approximately 21 billion preforms and bottles to more than 450 customers from 29 manufacturing facilities.
