Next Wave and KKR bid €300m for APPE

Petainer, with the financial backing of Next Wave Partners LLP and KKR Asset Management LLC, with a bid of in excess of €300 million underlined its growth ambitions by being named the ‘reserve’ bidder on the purchase of APPE in the administration process of La Seda de Barcelona in November 2014.

London, 25 November 2014

Nigel Pritchard, CEO of Petainer stated: “While being disappointed that we weren’t able to acquire APPE, Petainer is well positioned and supported  to continue to develop and grow the PET and plastics market with current products as well as new launches  in the coming months. We continue to look for complementary acquisitions but are also focussed on our on-going organic growth. In particular we are very pleased to announce that we are preparing to enter the UK market with an investment in an all new site, the location of which will be announced early in the New Year.”

“In the past few months, we have been engaged by a number of major UK based brands and our innovative packaging solutions and consultative approach to brand owners has led us to conclude that this is an opportune time to continue our exciting expansion plans.

Bringing our vision and expertise to the UK will further enhance the performance in both small and large containers packaging offering brand owners a true alternative not just in PET but also in other plastics”.

Jonathan Brod and Stephen Walls, Managing Partners of Next Wave Partners added “The bid for the APPE business highlighted Next Wave Partner’s ambition for its portfolio companies and the execution and financing capability we can deploy across complex, international investment situations. We will continue to assess acquisition opportunities to enhance the strong organic growth that Petainer has already achieved.

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