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

Adelaide’s Spring Gully Foods has cleared the debts which almost forced it into administration close to five years ago.

Sugar concerns continue to eat away at soft drink sales in Australia, according to Mintel, which is predicting further volume sales reductions in 2017.

French dairy giant Lactalis has recalled several baby formula milk and baby food brands that are sold around the world over salmonella fears.