CPPIB to invest $500 mln in recap of Berlin Packaging

U.S. private equity firm Oak Hill Capital Partners and Canada Pension Plan Investment Board (CPPIB) have agreed to recapitalize Berlin Packaging LLC, a Chicago-based supplier of packaging products and services. CPPIB will invest US$500 million in the company. The management team, including Chairman and CEO Andrew Berlin, will also invest. Additional terms weren't disclosed. The deal, which will back Berlin Packaging's growth via acquisitions and other strategic initiatives, is expected to close this year. Founded in 1898, Berlin Packaging provides customers in multiple sectors with a range of plastic, glass, metal containers, closures and dispensing systems.

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