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Investcorp eyes $1.3bn Berlin Packaging sale after seven-year holding

12 Jun 2014

berlin packaging productsBahrain-based investment house Investcorp is reportedly looking to sell Berlin Packaging in a deal which could value the US business at about $1.3bn.

The company has EBITDA of about $100m according to Reuters, which reported the news citing people familiar with the matter.

It added that the firm had hired Barclays and Deutsche Bank to run the sale process.

Investcorp bought a majority stake in Berlin Packaging, which makes rigid packaging products for a range of industries, through a $410m deal in 2007.

In April Investcorp and US buyout house Freeman Spogli teamed up to buy umbrella, shoe and accessories business Totes Isotoner.

Private equity firms MidOcean Partners and Bruckmann Rosser Sherrill & Co agreed to sell the asset seven years after MidOcean bought into the business through a $228m deal.

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