Agile Capital, a leading private equity firm, has acquired a significant minority share in Berry Astrapak. 

Berry Astrapak is a specialised manufacturer of an extensive range of rigid moulded, and thermoformed plastic packaging products serving the African market. The Group has manufacturing operations in Gauteng, Western Cape and Kwa-Zulu Natal and focuses on innovation-led growth in plastic packaging.

Astrapak’s growth has included the acquisition of the business in June 2017 by the RPC Group which then spent several developing years as RPC Astrapak (Pty) Ltd.  Due to the nature of the business, manufacturing capabilities and good supply chain, the Berry Global Group, Inc. subsequently completed the acquisition of RPC Group Plc in June 2019.

Astrapak services a number of industries from personal care products, food services right through to the automotive market. The organisation is well positioned to grow top-line sales to take advantage of African market opportunities.  Some reports indicate that the Africa Packaging Market size is currently estimated at USD43 billion and is expected to reach USD52 billion by 2029.  This is attributed to the increasing number of young consumers in Africa particularly, intensifying the demand for consumer goods. It is also worth noting that sustainability within the packaging industry has become a significant selling point.

“We pursue opportunities across diverse sectors,” explains Liz Kolobe, Partner: Agile Capital. “We seek to invest in businesses which have a sound strategy for growth with solid operational track records and solid management teams for long term partnerships.  Berry Astrapak is well established and we look forward to continuing the journey of growth with the business.”

“Agile Capital was a good cultural fit for us, we see them as part of a strategic edge for the business,” says Craig Matthews, Managing Director: Berry Astrapak. One of the cornerstones of the Group’s B-BBEE strategy is to partner with appropriate companies for specific initiatives which fits neatly with Agile’s philosophy that the right BEE partner provides more than just credentials within a given transaction.

“Our experienced executive team brings diverse skills to this partnership and we view this transaction as a remarkable opportunity to make a substantial contribution to the South African business landscape”, concludes Kolobe.