Reynolds will continue to manage closures businesses in Europe, the Middle East, Egypt, and South America
Cerberus has completed acquisition of CSI’s North American, Costa Rican, and Japanese businesses. Credit: Pixabay/Adam Radosavljevic.
Cerberus Capital Management has completed the acquisition of Closure Systems International’s (CSI) North American, Costa Rican, and Japanese businesses from Reynolds Group Holdings.
Reynolds will hold and continue to manage closures businesses in Europe, the Middle East, Egypt, and South America.
CSI provides bottle and container closures to major consumer packaged goods and packaging companies
CSI, a producer of closures in North America, supplies bottle and container closures to major consumer packaged goods and packaging companies.
The company also offers high-speed beverage closure application equipment and technical consulting services to its customers, in addition to closure systems.
CSI president and CEO Floyd Needham said: “As a result of our long and successful track record of delivering innovative, quality closure solutions, we have become a trusted partner to world-class companies.
“With Cerberus’ acquisition, we will maintain our commitment to meeting and exceeding the needs of our leading customers, while also identifying strategic growth opportunities to drive our long-term success.”
CSI serves various categories such as carbonated soft drinks, bottled water, juices, isotonics, teas, adult beverages, liquid dairy, foods and automotive fluids.
In 2018, CSI sold more than 56 billion closure systems to some of the largest consumer packaged goods and packaging companies across the globe.
Cerberus managing director Lucas Batzer said: “The packaging industry is constantly evolving and CSI has remained the partner of choice as a result of its innovation, reliability, and operational excellence.
“With the company’s scale and leading product development capabilities, we believe there are attractive opportunities for growth within both its current and adjacent markets.”
In November 2017, Pact Group Holdings agreed to acquire Asian packaging operations of Closure Systems International (CSI Asia) and Graham Packaging Guangzhou (GP Guangzho) from Reynolds Group Holdings for around $99m.
Based in Lake Forest of Illinois, Reynolds Group is engaged in the manufacturing and supplying of consumer food and beverage packaging and storage products.