Onex buying Swiss juice box maker in deal worth as much as $4.66B
by The Canadian Press
Toronto-based company will pay US$4.44 billion for SIG Combibloc Group, another US$217 million if financial targets met
TORONTO—Onex Corp. is buying Swiss food packaging company SIG Combibloc Group AG for as much as $4.66 billion.
The Toronto-based company says it will pay US$4.44 billion at the close of the transaction for SIG, which is most known as a juice box manufacturer.
It will then pay an additional amount of as much as US$217 million if the company meets financial targets in 2015 and 2016.
Onex says the deal is expected to close in the first quarter of next year, pending regulatory approvals.
SIG operates seven production facilities in Europe, South America and in the Asia Pacific region and has about 5,200 employees.
In a separate announcement, Onex said it was investing an undisclosed sum in Advanced Integration Technology, Inc. (AIT), an automation and aerospace tooling firm.
The investment will be the first for Onex Partners IV, Onex’s US$5.15-billion flagship fund.
Onex invests in a wide variety of industries and also gets significant revenues from businesses that offer healthcare imaging, customer care services, building products, and insurance services.
In addition, Onex receives fees for managing assets and interest and dividends from some of its investments.
With files from Canadian Manufacturing Staff
