Apax, BC Partners Said to Be Among Firms Weighing Keter Bid

Apax Partners LLP and BC Partners are among companies that are considering a bid for Keter Plastic Ltd., a family-run Israeli company founded in 1948, people with knowledge of the matter said.

Keter is valued at about $1.5 billion and the buyout firms, along with the Carlyle Group, will carry out due diligence on the company in the days ahead, the people said, declining to be identified because the matter is confidential. Rothschild is the bank arranging the sale.

A deal of that size would be the largest acquisition of a private Israeli company since 2014, when China’s Bright Food Group Co. purchased a majority stake in Tnuva Food Industries Ltd., a company that was then valued at about $2.2 billion. About $9 billion of deals involving technology-related companies took place in Israel last year, the most since 2012, IVC Research Center data show.

Keter Plastic, based in the seaside town of Herzliya near Tel Aviv, declined to comment in response to e-mailed questions. Spokespeople for Apax Israel, BC Partners and Carlyle also declined to comment.

The Israeli company, a unit of Keter Group, makes resin-based household and garden consumer products. In Israel, Keter Plastic has seven factories employing about 1,200 people.

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