Investcorp to complete sale of Berlin Packaging for $1.43 billion

1 Oct 2014

Investcorp, a global provider and manager of alternative investment products, announced today that it remains on track to complete the previously announced sale of Berlin Packaging, a leading supplier of rigid packaging products and services in North America, to Oak Hill Capital Partners. The transaction is valued at $1.43 billion and is expected close during the first week of October.

Founded in 1898, Berlin Packaging is the leading full-service Hybrid Packaging Supplier of plastic, glass, and metal containers and closures in North America. The Company serves over 7,500 core customers with more than 90 sales offices and warehouse locations across North America.

Investcorp acquired a majority stake in Berlin Packaging in 2007 and since then the company has delivered strong revenue and profit growth, under the leadership of Andrew Berlin, Chairman and CEO, despite broad economic downturn. During its period of ownership, Investcorp supported Berlin Packaging’s robust organic growth with several strategic add-on acquisitions that included All-Pak and Continental Packaging Solutions in 2010 as well as Lerman Container and United States Container Corporation in 2012. These acquisitions strengthened the Company’s reach and operational capabilities.

Mohammed Al Shroogi, President of Gulf business, Investcorp, said: “Andrew and his entire team have done an outstanding job of building a market leading company with a highly differentiated business model and a track record of strong financial performance. 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 and remain focused on the identification of high quality investment opportunities with the potential to add value to our client base.”
Andrew Berlin, Chairman and CEO of Berlin Packaging commented, “We have enjoyed our partnership with Investcorp and greatly appreciate their support over the last seven years. Investcorp’s resources and expertise have been invaluable to our business and I will always be grateful for their contributions, as well as their investors, for their commitment and friendship.”

Following the closing of the transaction, Andrew Berlin and the entire management team will continue in their current roles and Berlin Packaging will continue to serve as a one-stop-shop for all of its customers’ packaging needs.