Goldman Sachs Capital Partners Closes Investment in Plastipak Transaction to Drive Additional Growth at Leading Manufacturer of Plastic Packaging
PLYMOUTH, Mich., Aug. 10, 2012 /PRNewswire/ -- Plastipak Holdings, Inc. ("Plastipak" or the "Company"), a leading global supplier of plastic packaging solutions (including recycling) to the world's largest consumer product companies, said today that affiliates of GS Capital Partners closed a previously announced equity investment in the Company. The investment will position Plastipak to further capitalize on substantial growth opportunities across its global business platform.
Plastipak has been owned and run by the Young family since 1967. The Young family will continue to hold a majority stake.
GS Capital Partners was advised by Goldman, Sachs & Co.
Plastipak, a privately held Michigan corporation founded in 1967, is a leading global manufacturer of plastic packaging containers and preforms for some of the world's largest consumer products companies. Plastipak designs, manufactures, and distributes plastic containers in four product categories: carbonated and non-carbonated beverages; consumer cleaning; food and processed juices; and industrial, automotive and specialty products. The Company's operations span the U.S., Europe, and Brazil. The Company supplies rigid plastic packaging containers globally to multinational consumer product companies. In fiscal 2011, Plastipak sold approximately 21 billion preforms and bottles to more than 450 customers from 29 manufacturing facilities.
About GS Capital Partners
Since 1986, the Goldman Sachs Merchant Banking Division and its predecessor business areas have raised 16 private equity and principal debt investment funds aggregating over $82 billion of capital (including leverage). A global leader in private corporate equity investing, the GS Capital Partners family of funds focuses on large, high quality companies with strong management and on funding acquisition or expansion across a range of industries and geographies. Founded in 1869, Goldman Sachs is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals.
For more information, please visit www.gs.com/pia.
For more information on Plastipak, please visit www.plastipak.com
SOURCE Plastipak Holdings, Inc.