Consolidated Container Company, a developer and manufacturer of rigid plastic packaging solutions in North America, has been acquired by Bain Capital Partners. The previously announced acquisition is valued at approximately $800 million.
Consolidated Container Company (CCC), a leading developer and manufacturer of rigid plastic packaging solutions in North America, today announced the completion of its acquisition by affiliates of Bain Capital Partners LLC, a global private investment firm. The acquisition, which was previously announced on May 30, 2012, is valued at approximately $800 million.
Consolidated Container Company specializes in customized mid- and short-run packaging solutions serving a diverse customer base in the dairy, water, beverage, food, household chemical, automotive, and industrial chemical markets. With 59 manufacturing facilities and 2,100 employees, CCC has an integrated, nationwide network of manufacturing and service locations to deliver reliable and cost-effective packaging solutions to meet the needs of a wide range of customers and markets. The company was previously owned by Vestar Capital Partners.
“We are excited to begin our collaboration with Bain Capital on our path toward continued growth and expansion,” said Jeffrey Greene, Chief Executive Officer of Consolidated Container Company. “We look forward to working with Bain Capital to increase value to our customers and deepen our strong customer relationships through new product offerings, development of our technology platforms and increasing our geographic presence to meet their marketplace needs.”
“Bain Capital is pleased to be partnering with CCC and its management team, and we look forward to helping the company build upon its strengths in customer satisfaction, innovation and operations to expand the business in North America,” said Seth Meisel, a Managing Director at Bain Capital.
“We are grateful for the good work of our management partners at CCC,” said James P. Kelley, a Managing Director at Vestar Capital Partners. “We’ve enjoyed our long relationship with the company and wish the team and their new partners at Bain Capital well going forward.”
Citigroup, RBC Capital Markets Corp., Bank of America Merrill Lynch and Credit Suisse (USA), Inc. provided committed financing for, and Citigroup and RBC Capital Markets Corp., also served as M&A advisors to Bain Capital for the transaction. Kirkland & Ellis provided legal counsel, and Price Waterhouse Coopers provided accounting advisory services to Bain Capital. Consolidated Container Company was advised by Bank of America Merrill Lynch and Barclays, and its legal advisor was Simpson Thacher & Bartlett LLP.
About Consolidated Container Company
Consolidated Container Company is a leading developer and manufacturer of rigid plastic packaging, serving a diverse customer base in the dairy, large-format water, beverage, food, household chemical, automotive, and specialty chemical markets. CCC designs, produces, and delivers more than four billion bottles annually that touch the lives of millions of people each and every day. CCC owns and operates manufacturing facilities across North America providing standard and custom packaging solutions to its customers through an integrated network of facilities and technology platforms. From its state-of-the art Panella Engineering and Development Center to its experienced manufacturing teams across its network, CCC delivers high performance, cost-effective design solutions to meet even the most challenging container applications. For more information on Consolidated Container Company, visit www.cccllc.com.
About Bain Capital Partners
Bain Capital, LLC (www.baincapital.com) is a global private investment firm that manages several pools of capital including private equity, venture capital, public equity, high-yield assets and mezzanine capital with approximately $60 billion in assets under management. Bain Capital has a team of over 300 professionals dedicated to investing and to supporting its portfolio companies. Since its inception in 1984, Bain Capital has made private equity investments and add-on acquisitions in over 450 companies in a variety of industries around the world. The firm has offices in Boston, Palo Alto, New York, Chicago, London, Munich, Tokyo, Shanghai, Hong Kong and Mumbai.
About Vestar Capital Partners
Vestar is a leading private equity firm specializing in management buyouts and growth capital investments. Vestar’s active funds aggregate approximately $8 billion in commitments. The firm targets companies in North America with valuations of $150 million to $1.5 billion in four key industry sectors: Consumer, Diversified Industries, Healthcare, and Financial Services. Vestar invests and collaborates with incumbent management teams, family owners or corporations in a creative, flexible and entrepreneurial way to build long-term franchise and enterprise value. Since the firm’s founding in 1988, the Vestar funds have completed 69 investments in companies with a total value of more than $30 billion. Following the successful realization of its Consolidated Container Company investment, Vestar has returned more than $2.1 billion to its investors over the past two-and-a-half years while deploying $700 million of investments during the same period.