Investment company 3i Group plc will invest about €250 million (US$279.4 million) in Weener Plastic Packaging Group (WPPG), a manufacturer of plastic packaging systems for FMCG companies and private label manufacturers.
The former shareholder Lindsay Goldberg Vogel has sold its stake in WPPG.
WPPG designs, develops and manufactures caps, closures and roll-on balls, as well as jars and bottles for the personal care, food and beverage, and home care markets.
Headquartered in Weener, Germany, the company has a production network of 24 locations in 15 countries and about 2,000 employees across the world.
WPPG supplies to blue-chip names such as Beiersdorf, ColgatePalmolive, L’Oréal, Nestlé, P&G and Unilever.
The company generated sales of approximately €270 million in 2014 and achieved a compound annual growth rate of 8% between 2010 and 2014.
