(Reuters) - Ontario Teachers’ Pension Plan Board will buy U.S. private equity firm Carlyle Group’s majority stake in Portugal’s Logoplaste for an undisclosed sum, the plastic packaging maker said on Friday.
The deal has an enterprise value of 1.4 billion euros ($1.69 billion), according to a person close to the matter.
In 2016, Carlyle bought a 60% stake in Logoplaste at a valuation of 660 million euros. The rest is owned by family owners Filipe de Botton and Alexandre Relvas, who Logoplaste said, will retain the holding.
Carlyle had shortlisted BC Partners, Apax, Ontario Teachers and Stonepeak Infrastructure Partners in the sale of its majority stake, people close to the matter told Reuters earlier this month.
Logoplaste, founded in 1976 by entrepreneur Marcel de Botton, makes plastic bottles and containers for water, milk, ketchup, shampoo and lubricants, and supplies to Danone, Nestle, Arla, Kraft Heinz, P&G and L’Oreal among others.
($1 = 0.8264 euros)
Reporting by Tanishaa Nadkar in Bengaluru and Arno Schuetze; Editing by Ramakrishnan M. and Shinjini Ganguli
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