Sun European Partners has announced that one of its affiliates has completed the acquisition of Kobusch-Sengewald, flexible packaging firm from Pregis for €160m. Share Protective packaging firm Pregis said that the sale of Kobusch-Sengewald will enable the company to focus on growing its core protective packaging business. The Kobusch-Sengewald business reported sales of €211.6m for the full year 2011 and adjusted earnings before interest, taxes, depreciation and amortization of €24.8m. The news of the sale comes after Pregis announced that it has appointed a new president and chief executive. Kevin Baudhuin replaces Glenn Fischer as the company’s chief executive. Baudhuin joined Pregis in December 2007 as president of the company’s North American protective packaging business and was promoted to president of global protective packaging in October 2010. Commenting about the sale of Kobusch-Sengewald to Sun, Baudhuin said: “Pregis has strategically realigned its business by divesting itself of certain operating units. This will enable the company to focus on growing its core protective packaging business. “Our objective is to provide value-added protective packaging solutions and services that continue to set new industry standards.” Sun European Partners is the European adviser to Sun Capital Partners. Sun Capital Partners has completed more than 30 acquisitions in the packaging sector. Total combined revenue of affiliated portfolio companies in the packaging sector are in excess of $4.1 billion.
Sun European Partners completes Kobusch-Sengewald buy
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