Pregis sells Kobusch-Sengewald business

DEERFIELD — Pregis Corporation, an international manufacturer, marketer, and supplier of protective packaging products and specialty packaging solutions, has agreed to sell its Kobusch-Sengewald business unit to Sun European Partners LLP, the European adviser to Sun Capital Partners, Inc., for 160 million euros (approximately $222 million).

Sales of the Kobusch-Sengewald business for the 12 months ending September 30 was 211.6 million euros (approximately $307 million). The proceeds from the sale will be used to repay a portion of Pregis’ asset-based lending facility and will be used for debt repayment, general corporate purposes, and future reinvestment.

Kobusch-Sengewald is a supplier of specialized flexible packaging films for the food, consumer goods, and medical industries, along with semirigid and rigid packaging solutions for the high-end food market. Kobusch-Sengewald operates six manufacturing sites, with two in Germany, three in the U.K., and one in Egypt.

“I am pleased to announce the sale of our Kobusch-Sengewald business.  We wish the best of luck in the future to Borge Kvamme and his management team and I am confident the business will continue to thrive under its new ownership,” said Glenn Fischer, president and chief executive officer of Pregis,

William Blair & Company LLC served as sell-side adviser to Pregis.