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Coveris Completes Sale of Rigid Unit

COVERIS Rigid had sales of €560 million and 18 manufacturing sites in Europe and the US.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

COVERIS Group and Lindsay Goldberg LLC have finalized the transition of COVERIS Rigid summarized under Coveris Holdings S.A. to Lindsay Goldberg LLC.
 
With a turnover of €560 million, COVERIS Rigid is a leading supplier of innovative packaging solutions. With 18 manufacturing sites and 3,500 employees in Europe and in the USA, COVERIS Rigid supplies blue chip customers as well as local food manufacturers serving high performance plastic packaging for the Dairy and Spreads, Processed and Fresh Food and Foodservice industry.
 
With this transaction, Coveris Group pursues the realignment of its business portfolio and is further executing its strategy to focus on high performance and sustainable packaging solutions for food, pet food, medical and pharmaceuticals markets, as well as other growing consumer segments, primarily in Europe.
 
“The sale of Rigid that follows our recent divestment in the Americas is an important and successful milestone in our strategy to transform Coveris into a European champion for flexible plastic and paper-based packaging solutions,” Jakob Mosser, Coveris Group CEO, said.
 
The business will rebrand during the coming weeks and all COVERIS Rigid entities will rename to PACCOR, its well-known company name before the rigid packaging business had been merged into COVERIS during 2013.
 
 

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