US-based private equity firm CHS Capital could be eyeing to sell its rigid packaging supplier TricorBraun, which is valued at $1.3bn, including debt.
TricorBraun, which is headquartered in St. Louis, Missouri, is one of the largest providers of jars and bottles to the cosmetics, healthcare and food and drink industries.
Citing people familiar with the matter, Reuters reported that Chicago-based CHS has roped in investment bank Moelis & Co to explore the the sale of the packaging company.
CHS first bought TricorBraun in 1999 and then sold it to AEA in 2004. Almost two years later, the CHS again acquired the company from AEA Investors for an undisclosed amount.
CHS expects to initiate the auction of TricorBraun in September once rival Berlin Packaging completes its sale process
In June, Reuters reported that Bahrain-based private equity firm Investcorp Bank BSC was exploring the option to sell Berlin Packaging in an auction, which could value the packaging firm at over $1.3bn.
