Close×

Stretch film and flexibles manufacturer Integrated Packaging Group has hired investment banker Credit Suisse to find a buyer or look at a possible ASX listing.

 

Melbourne-based Integrated Packaging Group's majority shareholder is private equity firm Advent Partners, which acquired its stake in the company in 2011 for $50 million and is now looking to exit.

 

The company has an estimated sales revenue of $200 million.

According to a report in the Financial Review's Street Talk, potential buyers could include UK giants RPC [which made its first Australian acquisition late last year] and RKW, and Berry Plastics, Bemis, Sigma Plastics and Sealed Air from North America. Other prospects include Signode Industrial Group and Coveris.

Servicing the industrial and agricultural markets, IPG is a specialist manufacturer and distributor of stretch film wrap and associated products as well as printed polyethylene products and PVC food films.

IPG includes an Integrated Machinery division, established in 1990 to manufacture of stretch wrap film and equipment, and Integrated Recycling, which recycles PE-based plastics into a range of timber, concrete and steel substitute products.



Food & Drink Business

Australia's brewers' association is calling for pregnancy warning labels to be adopted across all alcohol products as a matter of urgency.

Diageo has kicked off the Australian launch of some of the rarest and oldest whiskies from classic, little-known, unknown or silent distilleries.

Murray Goulburn's CEO Ari Mervis will step down after the $1 billion takeover by Saputo is completed next month.