Florida-based Sun Capital Partners has purchased Britton Flexibles through its Sun European Partners arm.
Florida-based Sun Capital Partners has purchased Britton Flexibles through its Sun European Partners arm.
The undisclosed deal comes three years after HSBC Holdings’ private equity business bought the plastic manufacturer for £77 million.
Britton Flexibles produces plastics such as banking coin bags, cereal lining film and cling film. The company has three facilities in the UK serving the consumer goods, banking, healthcare, construction and technology sectors.
Philippe Neuschaefer, vice president of Sun European Partners, comments: ‘The Britton Group, with its excellent track record in flexible plastic packaging, is an excellent fit with our existing European packaging businesses.’
Affiliates of Sun European Partners own 17 packaging companies including French business Albea, American company Exopack, and German-headquartered Paccor.
Mike Clark, chief executive of Britton, says that through the deal the business will receive further investment to facilitate growth.
Clark adds: ‘We also hope to realise significant synergies with other affiliates of Sun European Partners in the sector to build a very strong pan-European flexibles business.’
