Based in Switzerland, SIG Combibloc Group is engaged in producing aseptic packaging for liquid food and beverage packaging industry
Canadian Investment management company Onex has announced the sale of approximately 30 million shares of SIG Combibloc Group, an aseptic carton packaging systems and solutions provider.
The transaction, at the placement price of CHF12 (£9.84) per share, is expected to provide approximately $367m (£298m) gross proceeds to the Onex Group.
The company’s share in the proceedings would constitute approximately $129m (£104m) as a partner in Onex Partners IV and as a co-investor.
Onex said that it will continue to hold approximately 133.2 million shares of SIG for an interest of 42%, and would continue to hold approximately 46.9 million shares for a 15% interest.
SIG Combibloc Group has been operating since 170 years
Based in Switzerland, SIG Combibloc is engaged in producing aseptic packaging for liquid food and beverage packaging industry, and providing full-scale systems and manufacturing supplies for companies.
SIG Combibloc manufactures light unbreakable cartons that offer flexible, hygienic and cost-effective solutions for food and drink producers.
For beverage industry, it offers combifit beverage carton with closure, combidome carton packaging that combines features of carton and bottle, combismile packaging with curved and modern shape, and easy-grip corners.
In addition, the company also offers sig paper straws, manufactured entirely of paperboard, to meet the rising demand for plastic-free packaging.
For food packaging, SIG offers combibloc carton packs and the retortable combisafe carton packs to ensure optimal protection of products and retain their high quality over a prolonged period even without refrigeration.
In addition, it offers combifit aseptic food cartons with characteristic sloping top, combisafe carton for canned food.
SIG Combibloc has sold its SIG Sauer branch to L&O Holdings to enhance its packaging operations, through its aseptic carton infrastructure and packaging division.
Established in 1984, Onex invests and manages capital on behalf of its shareholders, institutional investors and high net worth clients from around the world, and holds different platforms including Onex Partners, private equity funds, ONCAP, and private equity funds.