BC Partners and PSP to acquire majority stake in Israel's Keter

U.K. private equity firm BC Partners and Canada's Public Sector Pension Investment Board (PSP Investments) have agreed to acquire a majority stake in Keter Plastic Ltd, a Herzelia, Israel-based maker of resin-based household and garden consumer products. No financial terms were disclosed; however, prior media reports said the deal values the company at US$1.7 billion. Sami Sagol and his family, the founders of Keter, sold the interest to BC Partners and PSP and will retain a minority stake and reinvest. The deal is expected to close in the fourth quarter. Established in 1948, Keter sells its products in 90 countries through more than 25,000 retail outlets.

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