Logoplaste Splits Control With Carlyle In Capital Hike For Investment
28 June 2016
Buyout group Carlyle (CG.O) will take a 50 percent stake in Portugal's plastics packaging firm Logoplaste in a capital increase that will prepare the family-owned company for planned expansion mainly in the United States, Logoplaste's CEO said.
Filipe de Botton told Reuters by telephone from the United States that the company, whose products include bottles for the Lucozade and Jose Cuervo drinks brands and detergent Fairy liquid, expects to invest around 300 million euros ($330 million) in the next few years and needed a partner for that.
"It will be parity ownership, with control split 50-50. It is not a sale, but a capital increase in order to prepare the company for investing mainly in the United States," he said, declining to say how much exactly Carlyle would invest.
Earlier this month, sources said Carlyle's offer valued the entire company at roughly 660 million euros ($727 million).
Source : reuters.com