Bahrain-based investment firm considering sale of Berlin Packaging, Reuters reports; potential deal expected to value Berlin Packaging at approximately US$1.3B

STOKE, England , June 13, 2014 () – Bahraini investor Investcorp Bank BSC is considering a potential divestment of US hybrid packaging supplier Berlin Packaging LLC and has appointed Barclays Plc (LON:BARC) and Deutsche Bank AG (ETR:DBK) as its advisors in the process, Reuters reported, citing knowledgeable sources.

A potential deal is expected to value Berlin Packaging at some USD1.3bn (EUR960m), the people said, adding that the target has annual EBITDA of USD100m.

Neither of the parties wished to comment when approached by Reuters.

Berlin Packaging was set up in 1988 by Andrew Berlin, following the purchase of Alco Packaging. He remained in the role of CEO after Investcorp bought a majority stake in the firm in 2007 via a USD410m deal.

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