02 May 2012 22:20 [Source: ICIS news]
BOGOTA, Colombia (ICIS)--Vision Capital, a UK-based private equity firm, has acquired Brazilian plastics producer Vitopel, the UK-based private equity firm said on Wednesday.
Vision Capital intends to use Vitopel as a platform for consolidation in the biaxially oriented polypropylene (BOPP) industry and to capitalise on the growth potential within the Latin American BOPP film packaging market, the company said.
“We are delighted to continue expanding our presence in the Americas and to build upon our experience delivering strategic and operational improvements in the specialist film sector,” said Christophe Browne, a principal executive at Vision Capital.
Vision Capital acquired Vitopel, which produces BOPP film, from DLJ Merchant Banking Partners and JPMorgan.
“Vitopel represents an exceptional vehicle for us to invest in a market-leading, high growth business and we see significant opportunities to develop this business and pursue further industry consolidation,” Browne said.
Brazil-based Vitopel generated over $300m (€228m) in revenue in 2011, according to Vision Capital.
Vision Capital did not divulge the cost of the acquisition.
Vitopel’s materials are used for products including snack foods, fresh produce and confectionary produce.
By Simon Westbrook
($1 = €0.76)
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