(MENAFN) Investcorp, an alternative investment manager, announced it will sell Berlin Packaging, a leading supplier of rigid packaging products and services in North America, to Oak Hill Capital Partners, in USD1.43 billion worth transaction which is expected to close during the first week of this month, Gulf Daily News reported.
Berlin Packaging, which is a leading full-service Hybrid Packaging Supplier of plastic, glass, metal containers and closures in North America, serves more than 7.500 core customers with 90 sales offices and warehouse locations across North America.
Investcorp, which acquired a majority stake in Berlin Packaging in 2007, has delivered strong revenue and profit growth to the company since then despite broad economic decline, with acquisitions which strengthened the company's reach and operational capabilities.
'Over the course of our partnership, Berlin Packaging improved its profitability, delivered strong organic growth and executed several strategic add-on acquisitions. We are proud of what we accomplished with the Berlin Packaging team,' Investcorp Gulf business president said.
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