There will soon be a new owner for SIG Combibloc, one of the largest producers of beverage cartons in the world. Private equity firm Onex plans to acquire the Swiss company for €3.8bn.
Canadian private equity firm Onex ended the previous week's speculation on Monday when it confirmed it was buying Swiss packaging company SIG Combiobloc. Onex will acquire SIG from the Reynolds Group for €3.75bn. The transaction is expected to close in the first quarter of 2015 once all regulatory approvals have been obtained.
SIG is the world's second-largest producer of beverage cartons. Its product portfolio includes packaging for beverages and highly viscous foods, as well as sleeves, closures and filling machinery. The company's European production sites are located in Linnich and Wittenberg in Germany, Neuhausen am Rheinfall in Switzerland and Saalfelden, Austria. The company also has four other production sites in South America and the Asia-Pacific region. Furthermore, SIG has a global network of sales and distribution operations. The company currently has around 5,200 employees and posted sales of nearly €1.7bn in 2013.