Liquibox And DS Smith’s Plastics Division Transaction Update: Asset Sale Associated with CMA Clearance
Liqui-Box, a global supplier of bag-in-box packaging, has agreed to sell its bag-in-box business with customers based in the U.K. from its Wythenshawe, U.K., plant to Peak Packaging. The agreement gives effect to undertakings entered into by Liqui-Box with the U.K. Competition and Markets Authority (CMA) in respect of Liqui-Box’s proposed acquisition of the flexible and rigid plastic packaging division of DS Smith PLC.
The U.K. CMA formally accepted the undertakings with Liqui-Box on September 30, 2019, concluding its investigation into the DS Smith acquisition. Liqui-Box customers outside of the U.K. will continue to be served by Liqui-Box from Wythenshawe, along with other locations. The supply by DS Smith/Rapak to their existing customers will be unaffected by the Peak Packaging transaction.
“We’re happy to have clearance now in the U.K. and move one step closer to completing the acquisition of the DS Smith Plastics Division,” said Ken Swanson, Liqui-Box’s CEO. “Our team is prepared for a seamless handoff to Peak Packaging for customers in the U.K. and anticipate no service disruption for those outside of the U.K.”
About Peak Packaging
Peak Packaging is a privately owned Company and was formed in 1992. Peak Packaging is one of the leading manufacturers of 1000 Ltr liquid liners incorporating their own large range of produced fitments for the storage and transportation of liquid products within the Dairy, Food, Toiletries/Cosmetics, Chemical and Bio-Services industries. Peak Packaging has two manufacturing sites in the UK and Poland and has invested heavily in their factories and equipment over the last 5 years and continues to grow within its field. Both Factories are BRC -AA and FDA accredited and the company prides itself on its exceptional customer service.
About Olympus Partners
Founded in 1988, Olympus Partners is a private equity firm focused on providing equity capital for middle market management buyouts and for companies needing capital for expansion. Olympus is an active, long-term investor across a broad range of industries including business services, food services, consumer products, healthcare services, financial services, industrial services, and manufacturing. Olympus manages in excess of $8.5 billion mainly on behalf of corporate pension funds, endowment funds and state-sponsored retirement programs.
Founded in 1961, Liquibox is a global leader in liquid packaging and dispensing—working in partnership with customers to deliver high-quality, innovative solutions that achieve sustainable performance. In February 2020, Liquibox acquired DS Smith’s flexible packaging and Worldwide Dispensers that are now working as one across 21 locations powered by a global workforce of nearly 2,000 employees. The company is headquartered in Richmond, Virginia (USA).
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