Keter Plastic Overview
Keter Plastic manufactures and markets heavy-duty plastic products in Israel and internationally. The company producesresin-based indoor and outdoorfurniture, shelving systems, tool boxes, storage containers, and sheds. It also makes kitchen utensils, polyurethane-insulated camping products, refuse containers and bins, electronic bathroom and kitchen scales, bathroom accessories, toilet seats, booster chairs, and high chairs. Ketersells its products through its own chain of retail stores. The company has plants in Israel, Europe, and the United States.
Latest News
Growth-negative
Keter back on the market with 1.2 billion euro price tag | CTech
Plastic products manufacturer, Keter, is being put up for sale by BC Partners after seven years of ownership. The company is being sold for 1.2 billion euros, which is also the size of its debt. The decision to sell was made by the companys debtors, including banks and financial institutions, who have grown impatient with the companys shareholders. Potential buyers include Israels Fortissimo Capital and the international CVC fund. The companys CEO, Alejandro Pena, failed to lead the company to an IPO and struggled to refinance its loans on time. The companys debtors rejected a proposal of 100 million euros from the shareholders and have chosen to force Keter into a sale.
Management ChangesLayoffsPublic TradingAcquired-by
growth-negative
The Keter affair: Following IPO failure, Keter lays off 100 workers | CTech
Keter Plastic, a company that had planned to go public on Nasdaq, has fired nearly 100 employees, mostly based in Israel, due to the failure of the IPO. The IPO was canceled after negative indications from the institutional market in the United States. The company had been preparing for the IPO for two years and had hired investment banks JP Morgan, Goldman Sachs, Bank of America, and Jefferies. Keters revenue increased, but losses continued to grow. The company is also facing the need to refinance its debt. The layoffs and streamlining moves are taking place amidst a crisis affecting the global industry, particularly in the production of consumer goods. The CEO and the owner, BC Partners, are both disappointed with the cancellation of the IPO.
Layoffs
growth-positive
Five pledges in five years unveiled by Keter
Keter, a leading manufacturer of home and garden products, has announced five sustainability pledges to be achieved in the next five years. The pledges include increasing recycled content in production, zero production of single-use plastic consumer products, reducing greenhouse gas emissions, achieving zero waste to landfill, and implementing product end of life programs. The company aims to focus on better products, a better planet, and better business practices. Keter plans to report progress annually and embed sustainability within its operations. The company is committed to making a positive impact on the environment and encouraging sustainable living.
CustomersPartners
growth-positive
With New CEO, Plastics Company Plans Online Marketing Push
Israel-based plastics company Keter Plastic Ltd. has appointed Alejandro Pena as CEO as part of its plan to focus on the U.S. market and generate more online sales. The company, which was acquired by BC Partners in 2016 for $1.7 billion, expects to see around 60% of its growth in 2018 in the U.S. market. Keter Plastic Ltd. also plans to expand its operations in the U.S. through acquisitions. The companys outgoing CEO, Jonathan Koldony, will remain with Keter as a board member. Keter recently opened a new factory in New Mexico to establish a presence near the West Coast.
Management ChangesExpand
growth-positive
BC Partners to buy 80% Keter stake
BC Partners is set to acquire an 80% stake in Keter Plastic at a company value of $1.7 billion. BC Partners prevailed over other bidders, including the CVC Capital investment fund and the Goldman Sachs investment bank. Keter Plastics changed its selling format after realizing it could not obtain its $2 billion asking price for full ownership. The Sagol brothers, owners of Keter Plastics, are expected to sell 70-80% of the shares at a company value of $1.7-1.8 billion, with an option for the purchasers to buy the remaining shares. Keter Plastics, founded in 1948, manufactures plastic products for home use and has seen a surge in revenue and gross profit in recent years.
Acquisition
| Sector | Industrial Technologies |
Funding
| Total funding | Undisclosed |
| Last funding | Undisclosed |
| Stage | Acquired |
| Rounds | 0 |
| Investors | 0 |
Team Members
3
Employees: 500+
Web & Social Links
| Website | www.keter.com/en-us |
Locations
Sapir St 2, Herzliya, Israel
Photos & Videos
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