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Berlin Packaging announced the acquisition of Consolidated Bottle Corporation, a Canadian supplier of plastic, glass and metal containers and closures. The deal significantly expands Berlin Packaging's footprint in Canada, and all Consolidated Bottle employees and locations will be retained.
Berlin Packaging, a US packaging services provider, reached a recapitalisation agreement under which Canada Pension Plan Investment Board will invest $500 million alongside Oak Hill Capital Partners.
Oak Hill Capital Partners and Canada Pension Plan Investment Board signed a definitive recapitalization agreement for Berlin Packaging, with CPPIB investing US$500 million. The transaction is expected to close by the end of 2018, and Berlin Packaging has about US$1.4 billion in annual sales.
