Israeli plastics giant sells 80% of company for $1.7 billion

 

Israeli business daily Globes reports of Israel’s Keter Plastic Ltd. reportedly selling 80% of its stock to BC Partners for $1.7 billion.

By JTA

 

The Israeli plastics firm Keter reportedly has sold 80 percent of its stock at a price of $1.7 billion.

Keter products

BC Partners, a private equity firm with offices in London, Paris, Hamburg and New York, has been in exclusive talks to buy a stake in Keter, according to the Israeli business daily Globes.

Keter Plastics owner Sami Sagol reportedly had been trying to sell full ownership of the company for $2 billion. BC will still have an option of buying the remaining shares, according to Globes.

Keter operates 30 plants in Israel, the United States and Europe, and its products are sold in some 25,000 retail outlets around the world. It employs some 1,400 people in Israel.

It was founded in 1948 in Jaffa as a factory for making toys and household utensils. Joseph Sagol, Sami’s father, was among its founders and bought out his partners in 1971.

 

View original Arutz Sheva publication at:
http://www.israelnationalnews.com/News/News.aspx/215384

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