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Carlyle Group is reportedly set to buy Chinese packaging firm HCP for about $1 billion from owner Baring Private Equity Asia. The deal is reported to be expected to complete in the coming months.
HCP Group acquired the remaining 50% stake in Hetian Packaging (Huai'an), making it a wholly owned subsidiary. Hetian is an aluminium parts forming and anodising factory in China that has supplied HCP since 2013.
HCP Packaging Group held a ground-breaking ceremony on 22 January 2018 for the first phase of a multi-year expansion at its Rusi site in Bechhofen, Bavaria, adding two production buildings and injection moulding and decoration equipment, expected to be fully operational by October 2018 and raising annual capacity by over 60%.