Castle Harlan, the New York-based middle-market private equity firm, announced that Castle Harlan Partners V has agreed to sell Pretium Packaging to Genstar Capital, a private equity firm based in San Francisco.
Pretium Packaging, headquartered in Chesterfield, Missouri, is among the nation's largest manufacturers of customized, high-performance rigid plastic bottles and containers.
With more than 650 customers, including global consumer packaged goods companies, as well as national, regional and local customers, the Company supplies a wide range of bottles and containers to food, personal-care, household, healthcare and pharmaceutical end markets.
The Company currently operates ten manufacturing facilities, nine in the United States and one in Canada, employing more than 1,000 personnel.
Castle Harlan Co-President Bill Pruellage said, "The past four years have been an excellent and rewarding partnership with Pretium's management team. The company has realized a number of strategic and operational initiatives and is well positioned for continued growth."
Castle Harlan acquired Pretium Packaging in February 2010 in a transaction that also included the acquisition and subsequent merger of PVC Container Corporation, the parent of Novapak Corporation. The sale of Pretium is expected to close in June 2014.
