One51 makes €135m US buy

A $150m (€134.7m) purchase by One51 in the US, which it has described as “transformational”, will likely boost hopes for the plastics packaging firm to eventually float on the stockmarket.

One51 is buying Macro Plastics, which makes rigid plastic bulk bins and plastic bulk packaging in three plants in California, Washington and Kentucky. The deal is being transacted through One51’s 67%-owned North American packaging subsidiary IPL.

One51 is paying for the acquisition through IPL senior debt and equity from the IPL shareholders, the company said.