Beverage Packaging Holdings, owner of SIG Combibloc, has announced plans to buy the Reynolds Group in a deal worth $3bn.
Purchase of the Reynolds Group includes the acquisition of Closure Systems International (CSI) Group and Reynolds Consumer Products (RCP) Group. CSI Group is a manufacturer of caps and closures for drinks, while RCP Group makes aluminum foil, warp, and bags.
Funding for the acquisition will come from equity contributions from shareholders of Beverage Packaging Holdings, which is part of the Rank Group, as well as cash from SIG, and newly raised debt.
The transaction is expected to be completed by the end of the fourth quarter of this year.