Holland & Knight represented Oben Holding Group in the $116 million purchase of Terphane, a flexible packaging films business owned by Tredegar Corporation (NYSE: TG). The sale, which was announced on Sept. 1, is contingent upon the satisfaction of customary conditions, including clearance by competition authorities in Brazil and Colombia.
Terphane, headquartered in São Paulo, Brazil, has approximately 500 employees and operates manufacturing sites located in Cabo de Santo Agostinho, Brazil, and Bloomfield, New York.
Based in Lima, Peru, Oben Holding Group produces polypropylene, polyester and nylon films used for flexible packaging, and coated films for the graphic industry and thermoformed polypropylene products. The company has 14 manufacturing plants, one distribution center and eight sales offices within 17 countries across the Americas and Europe.
The purchase of Terphane will bolster Oben Holding Group’s position in the highly competitive flexible films industry and establish local manufacturing in new locations.
Holland & Knight Partners Roberto Pupo and Aymee Valdivia led the firm’s representation of Oben Holding Group. They were assisted by Partners William Sherman, Christine Fuqua Gay, Thomas Brooke, Lawrence Curtin, Ariadna Alvarez, Marc Druckman, Enrique Conde and Kyle Hershey, and Associates Patrick Burri, Jackson Oliver, Bibiana Cruz and Stephanie Rainaud, and International Law Clerk Cristobal Morales. Estudio Muniz in Peru and Nasser Advogados in Brazil served as co-counsel.
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