Bain Capital Said to Explore Sale of Consolidated Container

  • Consolidated Container said valued at more than $1.5 billion
  • Bain acquired plastic-bottle maker from Vestar in July 2012

Bain Capital, the Boston-based private equity firm with more than $75 billion in assets under management, is exploring a sale of Consolidated Container Co., people with knowledge of the matter said.

The buyout firm has held preliminary talks with banks about a transaction that could value Consolidated Container at more than $1.5 billion, said the people, who asked not to be identified because the information is private. No decision has been made and Bain may elect to hold on to the maker of plastic bottles, the people said.

A spokeswoman for Bain declined to comment. A representative for Consolidated Container didn’t immediately respond to e-mail requests for comment.

There are several packaging companies on the market right now, as valuations in the sector continue to rise. TricorBraun Inc. and Anchor Glass Container Corp. are being sold by CHS Capital and KPS Capital Partners, respectively, while family-owned Letica Corp. is working with Goldman Sachs Group Inc. to find a buyer, people familiar with the matter said last week.

Bain bought Atlanta-based Consolidated Container from peer Vestar Capital Partners in July 2012, in a deal that valued the company at about $800 million, according to a statement on the company’s website. In 2014, Bain and Consolidated Container acquired recycling companies Envision Plastics Industries LLC and Ecoplast Corp.

Consolidated Container, led by President and Chief Executive Officer Sean Fallmann, develops and manufactures more than 6 billion plastic packaging products annually for use in sectors including the beverage, automotive and chemical markets, according to its website.

Before it's here, it's on the Bloomberg Terminal.