Wayzata Completes Sale of Portola Packaging, Inc.
October 22, 2013
WAYZATA, MN – On October 22, 2013, Wayzata Investment Partners LLC completed the sale of Portola Packaging, Inc. to Silgan Holdings Inc. for a purchase price of $266 million.
Headquartered in Naperville, Illinois, Portola designs, manufactures and markets a broad range of plastic closures used primarily in the non-carbonated beverage and institutional food markets. Portola also produces a wide variety of plastic bottles. Portola had sales of approximately $200 million in 2012 and operates eight facilities in North America and Europe. Wayzata-managed funds acquired a majority ownership stake in Portola following its pre-packaged chapter 11 reorganization in 2008.
Silgan Holdings is a leading supplier of rigid packaging for shelf-stable food and other consumer goods products with annual net sales of approximately $3.6 billion in 2012.
Based in Wayzata, Minnesota with branch offices in Boston, Houston, London, Mumbai, and Singapore, Wayzata Investment Partners LLC is an SEC registered investment adviser to private investment funds with in excess of $7 billion in assets under management.