“We view Britton as a new platform investment on which to build a pan-European flexible packaging business,” Philippe Neuschaefer, vice president of Sun European Partners told FoodProductionDaily.com.
“Britton is a strongly performing, healthy company with a market leading position in the UK,” he said.
This week, Sun European Partners, the European advisor to Sun Capital Partners, announced it had bought the Britton Group from the Direct Principal Investments division of HSBC, which acquired Britton in 2008.
The Britton Group provides extrusion, printing, lamination, and conversion capabilities for a variety of markets. The Group’s products include cereal liner film and printed shrink wrap film which are produced at three facilities in northern England.
Neuschaefer said the company gives private investment firm the opportunity to make add-on acquisitions to build its pan–European flexibles business.
However, the vice president couldn’t give further details about any future investments.
In addition to acquisitions, there is plenty of opportunity for organic growth for the group, he said.
Growth of flexible packaging
Flexible packaging in general is a market with strong growth prospects, said Neuschaefer, as it meets most or all of packaging demand drivers such as brand enhancement, performance and logistical efficiency.
Over the past year, affiliates of Sun have completed more than half a dozen acquisitions in the packaging industry across Europe and the US.
“Packaging is a sector that Sun is experienced in and committed to and believes that certain trends and dynamics in this industry are conducive to continued growth and prosperity for well- positioned companies,” said Neuschaefer.
Packaging is a fragmented and regional market and we expect there to be numerous acquisition opportunities in the future, said Neuschaefer although he declined to give any specific details.