5th Jun 2015 10:36
LONDON (Alliance News) -3i Group PLC Thursday said it is to invest EUR250 million in Weener Plastic Packaging Group, with former shareholder Lindsay Goldberg Vogel selling its stake in the plastic packaging company.
Headquartered in Weener, Germany, Weener Plastic Packaging generated sales of about EUR270 million in 2014. The company employs about 2,000 people across the world.
3i will support the management team to secure further sustainable growth using its existing innovation-led platform, investing in its successful international expansion strategy and continuing its operational improvement initiatives. Furthermore, 3i will use its international network, experience and capital to help WPPG accelerate its growth by pursuing a buy-and-build strategy to expand into adjacent product categories and new geographies such as Emerging Markets," 3i Group said.
3i shares were down 1.2% at 556.50 pence Friday morning.
By Samuel Agini; [email protected]; @samuelagini
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