One Equity Partners acquires majority stake in Global Packaging Corporation N.V.
Investment will accelerate growth through broader range of products and services to major brands throughout the Americas
JPMorgan Chase’s private equity arm One Equity Partners leads management buyout of market-leading producer of innovative flexible and folding packaging solutions
Expansion of facilities in Mexico now underway
NEW YORK, NY; MIAMI, FL; December 14, 2007 – One Equity Partners (OEP), the private equity arm of JPMorgan Chase (NYSE:JPM), announced today it has acquired Global Packaging Corporation N.V., supporting a management buyout of the Company.
Global Packaging Corporation is a holding company whose primary operating subsidiary is Aluprint S.A. de C.V. (“Aluprint”), a leading flexible and folding carton packaging company based in Mexico. The investment will fund expansion of the Company’s operations in Mexico and Latin America, and continued growth of its global customer base through a broader range of products and services.
The Company will enter 2008 as Globalpack™ and will continue to focus on serving some of the most successful brand-name multinational food, health and personal care products, and tobacco companies around the globe.
“With the support of One Equity Partners, we will be able to continue investing in state-of-the-art facilities, development of innovative packaging solutions, and provide even greater service to our loyal customers,” said Gino Pacini, Chief Executive Officer, Globalpack. “Over the last 25 years, the talented team at Aluprint has delivered tremendous value, generating outstanding results which we are now in a position to further accelerate.”
“We are proud to contribute to the ongoing success of a great company,” said Chuck Auster, Managing Director and Partner, One Equity Partners. “We are confident Gino Pacini and his world-class management team will continue to lead the market through innovation, execution and, most importantly,
tremendous focus on their customers in Mexico, the region, and North America. With this infusion of capital, and the team’s continued dedication, Globalpack will ultimately become a major supplier globally.”
Globalpack’s customers include British American Tobacco, Colgate, Gamesa, Kellogg, Sabritas, and Cadbury Adams among others.
Globalpack participates in an $83 billion market in North America alone, according to Pira International’s estimate of 2009 spending in the Paper, Containerboard, and Flexible Packaging segments.
J.P. Morgan Securities, Inc. acted as a financial advisor to One Equity Partners, LLC on the transaction, the terms of which are not being disclosed.