MBK agrees $243m sale of Korea's Techpack Solutions

Dongwon confirmed in a regulatory filing that it would take full ownership of the asset. According to AVCJ Research, MBK acquired the business for $282.5 million - including $122.6 million in equity - in December 2008 through a carve-out from Doosan Corporation. The company was previously known as Doosan Techpack.

Techpack Solutions is the leading manufacturer of beverage packaging products in Korea, MBK claims on its website. It is the largest producer of glass bottles, the second-largest in plastic bottles and the third-largest in cans. The company supplies most of Korea's major beverage companies, both alcoholic and non-alcoholic. It manufactures nearly 3 billion bottles and cans each year.

Techpack was founded in the mid-1950s as Daehan Glass, producing containers for the food and beverage and medical industries, and then merged with Doosan Can Manufacturing in 1998. It has a 40% share of the domestic glass bottle market, while overseas clients include Swire Coca-Cola in Greater China, Crown in Australia, Ryco in the US, Borosil in India and Suntory and Kirin in Japan.

Dongwon has assets covering food processing and distribution, communication, construction, high-tech materials and shipping and logistics. It is also owns StarKist, the leading tuna brand in the US. Dongwon Systems produces packaging materials, aluminum foil products, and high-tech equipment used in areas such as e-learning and solar energy.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• Exits
• North Asia
• Industrials
• Buyout
• Exit
• South Korea
• MBK Partners
• Trade sale
• manufacturing