Global consumer packaging group Rexam has concluded the previously announced sale of its High Barrier food container business to a Silgan Holdings’ subsidiary for $250m.
The food container business of Rexam provides thermoformed packaging solutions such as retortable bowls and barrier trays to many of the packaged food and ready-meal companies. The division hopes to achieve sales of about $100m in 2012.
The deal, originally announced in July 2012 was part of a $709m total sell off by Rexam including the sale of its personal care division and allows the company to have 90% focus on the beverage can sector.
Silgan, which has annual net sales of about $3.5bn in 2011, supplies rigid packaging for consumer goods products and metal containers in North America and Europe.