Suiza Foods Sells Packaging Operations to Consolidated Container

Suiza Foods (Dallas) and Vestar Capital Partners III, L.P. (New York) have agreed to sell a majority interest in its U.S. plastic packaging operations to Consolidated Container Co., a newly formed company to be controlled by Vestar. The new company will be formed by combining Suiza's U.S. packaging operations, Franklin Plastics and Plastic Containers, Inc., with Vestar's Reid Plastics operations. The company's headquarters will be located in Dallas, TX.

Ron Davis, the current CEO of Reid Plastics and former CEO of Perrier Group of America, Inc., will serve as non-executive chairman of the board. William Estes, currently CEO of Suiza, will be the CEO of the new entity. Peter Bernon, currently vice chairman of Suiza and Joseph Rokus, currently chairman of Reid Plastics, each will be vice chairman of the new entity.

Consolidated Container will have over 70 manufacturing sites and will provide a broad portfolio of products including single layer high density polyethylene bottles for the dairy, water and fruit drink category, multi-layer barrier bottles in both high density and PET for packaged consumer goods and polycarbonate bottles for the home and office water market.