Ara Partners Acquires Sustainable Packaging Provider Petainer
Industrial decarbonization-focused private equity investor Ara Partners announced today the acquisition of UK-based sustainable packaging provider Petainer.
Founded in 2009, Petainer develops and manufactures sustainable PET solutions for customers in the soft drinks, beer, water and other consumer packaged goods sectors, enabling them to reduce their carbon footprint. The company specializes in multiple-use, refillable bottles (refPET), recycled PET (rPET), and circular applications, and operates eight sites in Europe, the Americas and Asia.
Hugh Ross, Petainer CEO, said:
“Ara’s investment focus on industrial decarbonisation and its expertise and existing presence in the plastics recycling industry in Europe and the Americas make them a uniquely valuable partner for Petainer. Ara’s ownership will significantly enhance Petainer’s ability to invest in expansion alongside our multi-national customers as these customers implement their global sustainability and circularity strategies.”
According to Ara Partners, Petainer was acquired in partnership with Petainer management and affiliates of private equity firm Next Wave Partners.
Christopher Picotte, Partner at Ara, said:
“Petainer is a compelling addition to Ara’s portfolio of companies working to decarbonise the packaging industry through technical innovation and best practices. From its product leadership in the refPet and rPet markets, to the certified carbon neutral manufacturing at its Lidköpking factory in Sweden, the Company has consistently achieved success in decarbonising both its products and its own operations.”