Vision Capital buys Bormioli Rocco

UK-based private equity firm Vision Capital has acquired 95% interest in Italian glass and plastic-packaging manufacturer Bormioli Rocco from Italian bank Banco Popolare for EUR238m ($336m).

Vision Capital will also acquire a portfolio of investments held by Banco Popolare's unit Efibanca for €10.5m ($14m) under the agreement.

JPMorgan Chase will provide a loan package for the Bormioli Rocco deal, while Vision Capital will pay €10m in cash for the minority investments.

Bormioli Rocco produces glassware and packaging containers for home and professional use, as well as supply glass and plastic packaging to the global pharmaceutical and food industries. The company posted earnings before interest, taxes, depreciation and amortisation of €85m on sales of €531m in 2010.

600450 Vision Capital buys Bormioli Rocco glassonweb.com

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