We are delighted to have advised Pactiv Europe on their sale to Sirap Gema S.p.A.
Pactiv Europe manufactures and distributes high quality standard and bespoke rigid plastic packaging products for use in the food industry throughout Europe.
Owned by Reynolds Group, headquartered in New Zealand, Pactiv Europe consists of Kama Europe Limited and Reynolds Food Packaging Spain S.L.U. based in Sedgefield, England and Barcelona, Spain respectively.
Kama Europe employs 110 people and in 2016 reported turnover of c.£35 million. Reynolds Food Packaging Spain employs 60 people and in 2016 achieved turnover of c.€11.4 million.
We were engaged by Reynolds Group to act as lead advisors on the sale of Pactiv Europe to focus on its North American operations and exit the European food packaging market.
Our team ran a competitive sales process generating much interest from both UK and international trade, and private equity acquirers.
Italian based food packaging company Sirap Gema S.p.A, a wholly owned subsidiary of Italmobiliare, was the successful bidder as it pursues a strategy of growth and development in the European rigid food packing market.
We leveraged strong international knowledge and relationships to identify key strategic acquirers in the food packaging sector, which introduced the ultimate buyer Sirap Gema S.p.A.
It was a pleasure working with Grant Thornton who provided quality advice and service throughout the process. We are really grateful to the team for all their hard work and dedication in first identifying the buyer and then getting this deal across the line.Andrew Liddell M&A Director, Reynolds Group