Keter Plastic

Company Overview

Snapshot

Founded in January 1948, Keter Plastic operates with over 500 employees. The company was acquired by BC Partners in July 2016, marking a significant milestone in its corporate history.

Business overview

Keter Plastic is a manufacturer and marketer of heavy-duty plastic products, specializing in resin-based indoor and outdoor furniture, shelving systems, toolboxes, storage containers, and sheds. The company also produces kitchen utensils, polyurethane-insulated camping products, refuse containers, bins, electronic bathroom and kitchen scales, and bathroom accessories. Keter Plastic serves global markets, distributing its products through its own retail chain and operating in the Industrial Technologies sector, specifically within Manufacturing Processes & Systems.

Strategic signal

In July 2023, Keter Plastic was put up for sale by BC Partners for 1.2 billion euros, reflecting the size of its debt. This decision, driven by impatient debtors including banks and financial institutions, signals a critical juncture for the company, indicating a forced sale after previous attempts to refinance loans and pursue an IPO failed. Potential buyers include Fortissimo Capital and the CVC fund, highlighting a significant ownership transition and financial restructuring within the industry.

Company Intelligence Q&A

What is the current status of Keter Plastic's ownership?

In July 2023, Keter Plastic was put up for sale by its owner, BC Partners, for 1.2 billion euros. This decision was made by the company's debtors due to outstanding debt.

What was a significant event for Keter Plastic in 2022?

In October 2022, Keter Plastic laid off nearly 100 employees, primarily in Israel, following the cancellation of its planned IPO on Nasdaq. The company had been preparing for the IPO for two years but faced negative indications from the institutional market in the United States.

What sustainability commitments did Keter Plastic announce in 2020?

In December 2020, Keter Plastic announced five sustainability pledges to be achieved over the next five years. These included increasing recycled content in production, achieving zero production of single-use plastic consumer products, reducing greenhouse gas emissions, reaching zero waste to landfill, and implementing product end-of-life programs.

When was Alejandro Pena appointed CEO and what was the strategic focus?

In February 2018, Alejandro Pena was appointed CEO of Keter Plastic. This appointment was part of a strategic plan to focus on the U.S. market and increase online sales, with an expectation of 60% of 2018 growth coming from the U.S. market.

When was Keter Plastic acquired by BC Partners?

In July 2016, Keter Plastic was acquired by BC Partners, who purchased an 80% stake in the company at a valuation of $1.7 billion.