International investment manager, 3i Group, has invested approximately EUR250 million in Germany-headquartered Weener Plastic Packaging Group (WPPG), a leading manufacturer of innovative plastic packaging systems for fast-moving consumer goods (FMCG) companies and private label manufacturers. The former shareholder Lindsay Goldberg Vogel has sold its stake in WPPG.
WPPG designs, develops and manufactures added value caps, closures, roll-on balls, jars and bottles for the personal care, food and beverage, and home care market. It operates in a production network of 24 locations in 15 countries and approximately 2,000 employees across the world. WPPG supplies a well-balanced customer portfolio with blue-chip names such as Beiersdorf, Colgate-Palmolive, L’Oréal, Nestlé, P&G and Unilever.
According to 3i , it will support the management team through its existing innovation-led platform, investing in its successful international expansion strategy and continuing its operational improvement initiatives. Furthermore, 3i will use its international network, experience and capital to help WPPG accelerate its growth by pursuing a buy-and-build strategy to expand into adjacent product categories and new geographies such as the emerging markets.
(PRA)
