Private equity has taken another stake in the packaging sector with Vision Capital buying a majority shareholding in Italian glass and plastics group Bormioli Rocco. Vision Capital is acquiring a series of companies from Italian bank Banco Popolare, the largest of which is a "substantial majority" stake in the Euros 530m-turnover business. Bormioli Rocc0 was founded in 1825 and is a well-known consumer glassware brand but is also a supplier of glass and plastic packaging for the food and pharmaceutical sectors. It has 10 manufacturing sites across Italy, France and Spain including three plastics packaging facilities and three glass packaging facilities. The other plants produce homewares. Vision Capital chief executive Julian Mash said: "Bormioli has strong businesses in a sector we know well, and will have the chance to build on its long and proud heritage." The deal is the latest in a number of private equity investments in packaging. Private equity house Sun Capital has been particularly active in recent months, buying Britton Group, Alcan's former beauty division Albea, and tube group Betts among others.
