CD&R to buy German packaging group Mauser from Dubai International for $1.7 bn

Private equity firm Clayton Dubilier & Rice (CD&R) yesterday struck a deal to buy German packaging group Mauser AG from Dubai International Capital (DIC) for around €1.25 billion ($1.7 billion), two sources familiar with the matter said on Sunday.

DIC, the private equity arm of Dubai Holding, had acquired Mauser in 2001 from JP Morgan's buyout arm in a €850 million ($1.1 billion) deal.

CD&R, which recently acquired specialty chemical company Ashland Water Technologies for $1.8 billion, is said to have fended off rival bids from London-based buyout firm Pamplona Capital Management and a joint bid from Ardian (earlier called AXA Private Equity) and Technoplast.

With annual revenue of more than $1.6 billion, Mauser is a global provider of industrial packaging operating more than 80 production facilities, including more than 20 reconditioning facilities across Europe, North America, Latin America and Asia.

Founded in 1896 and based in the German town of Bruehl near Cologne, Mauser develops manufactures and markets packaging solutions for many of the most renowned companies in the major industrial branches.

Its largest business is plastic packaging, followed by metal, fibre and IBC packaging, reconditioning services and machinery for packaging production.