Viscount Plastics was acquired by Linpac in 2001. It manufactures and markets rigid plastic containers, plastic packaging and other plastic products.
The division has production facilities in Australia, New Zealand, China and Malaysia, and generates approximately 13% of Linpac Group's revenues.
Pact – which has annual turnover of around AUS$1.2bn (US$ 1.2bn) – manufactures and designs plastic and metal packaging for products in a raft of industries including industrial chemicals, household consumer, food, beverage and personal care.
A Linpac Group spokesperson told PN: "Linpac confirms that it has just sold its Viscount Plastics division which operates in Australia, New Zealand, China and Malaysia, and that it is being advised by Rothschild on a sale process for Ropak, its North American division.
"There are no plans for any further sales processes at this time."
The sale was managed by Deutsche Bank and was completed at the end of July. Lenders took control of Linpac in 2009 in a debt-for-equity swap that saw Montagu Private Equity lose its stake in the firm.
Linpac bought 51% of Viscount Plastics in 2001 after acquiring a 49% interest in the company in March 1999.
Earlier this year, investment group One Equity Partners (OEP) finalised its takeover of Linpac Allibert, as it revealed plans that the firm will become the sister company to plastic packaging business Schoeller Arca Systems.
