| NEW YORK
NEW YORK Aug 6 TricorBraun Inc is planning a
sale process that could value the provider of jars and bottles
to the cosmetics, healthcare and food and drink industries at
more than $1.3 billion, including debt, according to people
familiar with the matter.
TricorBraun's owner, private equity firm CHS Capital LLC,
has hired investment bank Moelis & Co to explore a sale
of the company, the people said this week, asking not to be
identified because the deliberations are private.
TricorBraun and CHS did not respond to requests for comment
while Moelis declined to comment.
Headquartered in St. Louis, Missouri, TricorBraun is one of
the packaging industry's largest suppliers of glass and plastic
containers, closures, dispensers and tubes.
CHS acquired TricorBraun in 2006 from buyout firm AEA
Investors Ltd for an undisclosed amount. It was the second time
CHS became TricorBraun's owner; it had acquired the company in
1999 and then sold it to AEA in 2004.
CHS plans to launch an auction for TricorBraun after rival
U.S. packaging distribution company Berlin Packaging LLC
completes its own sale process, expected by September, people
familiar with the matter said.
Reuters reported in June that Bahrain-based investment firm
Investcorp Bank BSC was exploring a sale of Berlin
Packaging in an auction that could value it at more than $1.3
Formerly known as Code Hennessy & Simmons, Chicago-based CHS
was founded by three Citicorp leveraged finance veterans in
1998, and has told investors it will not be raising any more
funds. Its last fund, raised in 2005, amassed $1.3 billion.
(Reporting by Soyoung Kim and Greg Roumeliotis in New York;
Editing by Leslie Adler)