Packaging company SCA said Tuesday it will sell its North American packaging operations to Metalmark Capital for $400 million cash.
The sale of the unit, with revenue of about $430 million a year, is expected to be completed during the current quarter.
The business being sold includes protective packaging, consumer packaging and temperature-assurance packaging solutions. The operations have a total of approximately 2,100 employees and account for about 10 percent of SCA’s total sales within its Packaging business.
SCA, based in Sweden, has annual sales of about $15 billion and employs 50,000 people. Metalmark Capital is a private equity firm.