Rexam sells personal care business for $709m

Published: 3-Jul-2012
Packaging Finance

Sun Capital Partners affiliate acquires CTH business segment


Packaging supplier Rexam has provided details of the sale of its personal care business, announced earlier this year. The business is being sold for a total of $709m (£452m) in two parts: the cosmetics, toiletries and household care products business (CTH), for which an affiliate of private equity firm Sun Capital Partners Inc has made a binding offer for $459m in cash; and the high barrier food and packaging business (HBF), which is to be bought by Silgan Holdings Inc, a US based supplier of packaging for consumer goods products, for $250m in cash.

Both transactions are subject to certain adjustments of completion but are expected to complete in Q3 2012 (HBF) and Q4 2012 (CTH) on the condition of certain regulatory approvals.

The company has said it will return around £370m to shareholders.
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