Market Overview

COVERIS Group and Lindsay Goldberg LLC, One of the Most Experienced Global Private Equity Investors, Have Finalised the Transition of the Rigid Packaging Business "COVERIS Rigid" Summarized under Coveris Holdings S.A. to Lindsay Goldberg LLC


Closing Date is July 31st, 2018

Leading pan-European plastic packaging business for food and non-food

COVERIS Rigid with a turnover of €560m is a leading supplier of
innovative packaging solutions. With 18 manufacturing sites and 3,500
employees in Europe and in the USA, COVERIS Rigid is a preferred
supplier to blue chip customers as well as local food manufacturers
serving high performance plastic packaging for the Dairy & Spreads,
Processed & Fresh Food and Foodservice industry. Several Non-Food
applications are completing the comprehensive product offering based on
thermoforming, injection moulding and decoration technologies.

With this transaction, Coveris Group pursues the realignment of its
business portfolio and is further executing its strategy to focus on
high performance and sustainable packaging solutions for food, pet food,
medical and pharmaceuticals markets, as well as other growing consumer
segments, primarily in Europe.

Jakob Mosser, CEO Coveris Group, stated, "The sale of Rigid that follows
our recent divestment in the Americas is an important and successful
milestone in our strategy to transform Coveris into a European champion
for flexible plastic and paper-based packaging solutions."

Dieter Bergner, CEO COVERIS Rigid, added, "We are very pleased to have
Lindsay Goldberg as our new partner. Lindsay Goldberg´s packaging
expertise and its global network will allow COVERIS Rigid to continue
its development into a preferred supplier for innovative packing
solutions with an international footprint."

The business will rebrand during the coming weeks and all COVERIS Rigid
entities will rename to "PACCOR," its well-known company name before the
rigid packaging business has been merged into COVERIS during 2013.

About Coveris

As a leading international manufacturing company, Coveris is dedicated
to providing solutions that enhance the safety, quality and convenience
of products we use every day. In partnership with the most respected
brands in the world, Coveris develops vital products that protect
everything from the food we eat, to medical supplies, to the touch
screen device in our pockets, contributing to the lives of millions
every day.

Coveris is an affiliated portfolio company of Sun Capital Partners, Inc.

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