Manufacturing Industry
Kraton Polymers sold to investment firm.(News)
Plastics News, November, 2003 by Esposito, Frank
Byline: Frank Esposito Two years after buying Kraton Polymers LLC, Ripplewood Holdings LLC is selling the styrenic block copolymer leader to Texas Pacific Group for $770 million. The transaction price represents a 48 percent markup from the $520 million that New York-based Ripplewood paid for Houston-based Kraton in 2001.
"Kraton has accomplished a great deal since we acquired the company ... enabling us to earn an attractive return for our investors,'' Ripplewood Managing Director Ian Snow said in a Nov. 10 news release. TPG, based in Fort Worth, Texas, is a private investment firm with more than $13 billion in assets, including major stakes in J. Crew, Burger King, Del Monte and America West. TPG also was instrumental in the turnaround of Continental...
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