CBPE Capital has offloaded its stake in Allied Glass, the Yorkshire-headquartered premium glass container maker.
The shareholding was sold for an undisclosed amount to a vehicle funded by Sun Capital and Allied management.
Over the last three years, Allied has doubled its customer base to over 260 customers and delivered sales growth of 13% per annum.
CBPE invested in Allied in 2013 alongside the management team, and the two parties have worked closely together to secure its position in the production of high design glass packaging.
Under CBPE’s ownership there has been significant investment in new state-of-the-art decoration facilities and coloured glass production capabilities, both satisfy growing trends within the premium spirits market with producers of craft gin particularly likely to capitalise on Allied’s ability to deliver packaging that will differentiate their products at points of sale.
In addition, there has been continued focus on quality and production efficiency, which has underpinned Allied success in increasing its share of the premium market.
The investment by Sun Capital will enable Allied to capitalise on an opportunity to globalise Allied’s approach and deliver its industry leading expertise to a wider customer base.