BOCA RATON, Fla., Oct. 5 -Sun Capital Partners, Inc., a leading private investment firm specializing in leveraged buyouts and investments in market-leading companies, today announced that one of its affiliates has reached an agreement to acquire Exopack Holding Corp. and its subsidiaries ("Exopack"), a leading North American flexible packaging converter and provider of paper and plastic packaging solutions.
Exopack will be acquired by a Sun Capital Partners, Inc. affiliate, and will be combined at closing with two other previously acquired flexible packaging companies, Cello-Foil Products, Inc., ("Cello-Foil") and The Packaging Group ("TPG"). Cello-Foil is a leading manufacturer of innovative flexible packaging products ranging from mono-film overwraps to complex multi- layer laminations, and TPG is a leading extruder and converter of flexible packaging materials including printed and unprinted vacuum pouches and printed and unprinted roll stock used primarily by the food, industrial, and medical markets. Terms of the transaction were not disclosed.
Michael Kalb, Managing Director of Sun Capital Partners, Inc., commented, "We believe that the flexible packaging industry has attractive characteristics for further consolidation. While highly fragmented, the industry is large, approximately $22.0 billion, and enjoys a growth profile exceeding GDP. There are an estimated 460 flexible packaging manufacturers in North America and the seven largest domestic converters account for about 55% of the overall market, Exopack Holding Corp. among them. We believe that the combination of Exopack, Cello-Foil, and TPG will result in an ideal platform to benefit from the consolidation trends in the flexible packaging market."
About Sun Capital Partners, Inc.
Sun Capital Partners, Inc. is a leading private investment firm focused on leveraged buyouts and investments in market-leading companies that can benefit from its in-house operating experience and expertise. Sun Capital Partners, Inc. has offices in Boca Raton, Los Angeles, New York, and London. With more than $2.5 billion of equity capital under management, affiliates of Sun Capital Partners, Inc. have acquired more than 95 companies throughout the world with consolidated sales in excess of $22.0 billion.
