Petainer

Rexam has sold Petainer, its European PET bottle and keg manufacturing subsidiary, to Next Wave Ventures and WHEB Ventures.  The consideration consists of £16 million paid in cash.

Headquartered in Lidköping, Sweden, Petainer is the market leader in Germany for reusable bottles and in the Nordic region for PET beverage containers.   The company has a second plant in As, Czech Republic and has a workforce of approximately 300 employees in total.  Supported by Next Wave Ventures, the company will pursue further growth by continued refillable bottle market share gains and by expanding sales of one-way bottles (and pre-forms) for growth markets.  Petainer also aims to drive future growth through its innovative PET keg, an environmentally friendly alternative for steel beer kegs and other beverage distribution.

The divestiture completed Rexam's objective of divesting of businesses in sectors in which it does not have a global footprint.  Pöyry Capital acted as Exclusive Financial Advisor to Rexam in this transaction.  The business had been for sale for the last couple of years and Pöyry Capital was hired in March 2009 to assist with finding a suitable buyer.