Consolidated Container Company (CCC) said its acquisition by affiliates of Bain Capital Partners LLC will provide the platform to expand its capabilities and customer base.
Terms of the agreement were not disclosed but the deal is expected to close during the third quarter of 2012.
CCC has 59 manufacturing facilities and 2,100 employees serving markets including dairy, beverage and food.
Four billion bottles annually
The firm claim to design, produce, and deliver more than four billion bottles annually from high density polyethylene (HDPE), polyethylene terephthalate (PET), polypropylene (PP) and polycarbonate (PC).
Bain Capital purchased CCC from Vestar Capital Partners, who bought 51% of Suiza Foods Corporation plastics operations in 1999, forming the Consolidated Container Company.
Jeffrey Greene, chief executive officer of Consolidated Container Company, said: “We are very proud of the customer solutions we provide, and of our ability to understand and respond to the needs of customers with innovative solutions and reliable processes.
“With the support and resources of Bain Capital, we are excited to continue to expand our capabilities and customer base through investment in product development, technology, greenfield facilities and acquisitions.”
Support future growth
Seth Meisel, a managing director at Bain Capital, said: “We are very excited to be partnering with CCC and its management team to support the company in its future growth.
“We are impressed by the success CCC has demonstrated in offering solutions that deliver a high level of customer satisfaction, its industry-leading design and R&D capabilities, and its well-run manufacturing network.“
James P. Kelley, a managing director at Vestar Capital Partners, said: “Over the past several years, CCC has made significant progress developing clear leadership positions in its core North American markets.
“We are grateful for management’s commitment and value our partnership with them. Bain Capital’s new investment will enable CCC to build on its progress.”