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Rexam sells Petainer business

Rexam has finally sold its Petainer specialist PET container business.

The business, seen as non-core by Rexam, was put up for sale in 2006. It makes refillable PET containers and PET preforms, and two months ago introduced a disposable beer keg described as substantially lighter than its metal counterpart, requiring less energy in its manufacture and recyclable, removing the need for it to be returned.

Petainer is based in Lidköping Sweden, with a second plant in Aš - Rexam Petainer Aš s.r.o. - Czech Republic and a sales office in Germany. It has been bought by financial investment companies Next Wave Ventures and WHEB Ventures, and members of the management team.

Pre-tax profit in the first half of this year was £5 million (2008 full year £3 million) and the purchase price is £16 million.

The new owners anticipate expanding Petainer into other growth markets, including other beverage sectors that are beginning to replace their current packaging with PET, and geographically into Central and Eastern Europe.

Related Articles:

• Next Wave acquires Petainer (11 November 2009)
• Next Wave Ventures and WHEB Ventures acquire environmentally friendly packaging company (11 November 2009)
• Rexam will sell PET bottle sites (01 November 2006)