Rexam has announced it has completed the sale of its High Barrier food container business to Silgan for $250m.
The cash deal, announced in July, leaves Rexam will a 90% focus on the beverage can sector.
The food container business provides thermoformed packaging solutions such as retortable bowls and barrier trays to worldwide packaged food and ready-meal companies.
Silgan said the business has anticipated sales of approximately$100m this year.
The deal was part of a $709m total sell off by Rexam, including its Personal Care business.
At the time of the deal, Jonathan Thornton, head of communications at Rexam, told FoodProductionDaily.com the decision to sell off these segments was part of a strategic review.
“We will look to build on and focus on our current beverage can products in the market, where there are growth regions and stable regions.”