US DOJ and Liqui-Box Reach Agreement on Liqui-Box\'s Acquisition of DS Smith Plastics
21 February 2020
RICHMOND, Va., Feb. 19, 2020 /PRNewswire/ -- Liqui-Box, a portfolio company of Olympus Partners, and the U.S. Department of Justice (DOJ) have entered into an agreement to allow Liqui-Box to acquire DS Smith plc's Plastics Division (DS Smith Plastics). The transaction is expected to close in Q1 2020.
As part of the agreement, Liqui-Box will divest selected DS Smith/Rapak bag-in-box (BIB) business in the U.S., including two manufacturing facilities located in Indianapolis, Indiana, and Union City, California.
"I am pleased that we were able to find a solution that works for all parties and can now move forward with closing the acquisition," said Ken Swanson, Liqui-Box president and CEO. "As we work to integrate Liqui-Box and DS Smith Plastics, we will align product families, improve distribution networks and leverage the strengths of each business to deliver an enhanced value proposition."
Liqui-Box is a global leader in liquid packaging and dispensing – working in partnership with customers to deliver high-quality, innovative solutions that achieve sustainable performance. Liqui-Box was founded in 1961 and operates globally. Stamford, Connecticut-based private equity firm Olympus Partners holds Liqui-Box among its portfolio of middle-market packaging and other businesses. More at liquibox.com.
About DS Smith Plastics
The Plastics Division consists of sustainable flexible packaging and dispensing solutions, extruded plastic sheet products, returnable injection molded crates, and molded foam products. Headquartered in Romeoville, Illinois, the Plastics Division employs more than 2,000 people across 25 facilities in North America, Europe and Asia-Pacific.
About Olympus Partners
Founded in 1988, Olympus Partners is a private equity firm focused on providing equity capital for middle market management buyouts and for companies needing capital for expansion. Olympus is an active, long-term investor across a broad range of industries including business services, food services, consumer products, healthcare services, financial services, industrial services, and manufacturing. Olympus manages in excess of $8.5 billion mainly on behalf of corporate pension funds, endowment funds and state-sponsored retirement programs.
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