Nampak Plastics Europe manufactures high-density polyethylene bottles
Image: Bellcave has acquired Nampak Plastics Europe. Photo: courtesy of Adam Radosavljevic from Pixabay.
Greybull Capital’s business unit Bellcave has signed an agreement to acquire Nampak Plastics Europe (NPE) for an undisclosed sum.
NPE, a wholly-owned subsidiary of Nampak Holdings UK that is held by Nampak Limited, is a manufacturer and packaging supplier to the UK dairy sector of high-density polyethylene (HDPE) bottles.
Nampak Plastics Europe serves key players in the UK and Ireland dairy industries
With a 34% share of the available UK milk bottle market, the company provides its products to multiple key companies in the UK and Ireland dairy industries.
NPE has been placed for sale on 28 August and the accelerated process for disposal was started. Indicative offers have been secured in September and a final agreement was signed on 12 December with Bellcave.
The sale, which is effective immediately, includes the pension fund liability. NPE’s ownership transfers to Bellcave on the date of signature of the sale and purchase agreement.
Nampak said that there are no conditions precedent and no regulatory approvals are required for the transaction.
Nampak CEO André de Ruyter said: “The sale of NPE is in line with Nampak’s ongoing strategy to sharpen our focus on strategic substrates. We continue to rationalise the portfolio to optimise and improve returns on capital and reinforce our strategic intent.”
Nampak is an African diversified packaging manufacturer that serves fast-moving consumer goods companies. The company produces advanced metal, glass and rigid packaging solutions from facilities in 11 countries across Africa.
In April this year, Sweden-based AR Packaging Group agreed to acquire Nampak Cartons Nigeria for an undisclosed sum.
Nampak Cartons Nigeria operates a production facility in Ibadan of Oyo State to serve a range of multinational customers in the tobacco and food segments.
In March 2016, Nampak Plastics announced plans to set up a new plant in Stirling, Scotland, to manufacture a range of plastic milk bottles.
As part of this effort, the firm has signed a lease deal on a 20,000ft² industrial facility at Springkerse Industrial Estate. The manufacturing plant is expected to create 20 new full-time jobs in the area.