JERUSALEM (JTA) — The Israeli plastics firm Keter reportedly has sold 80 percent of its stock at a price of $1.7 billion.
BC Partners, a private equity firm with offices in London, Paris, Hamburg and New York, has been in exclusive talks to buy a stake in Keter, according to the Israeli business daily Globes.
Keter Plastics owner Sami Sagol reportedly had been trying to sell full ownership of the company for $2 billion. BC will still have an option of buying the remaining shares, according to Globes.
Keter operates 30 plants in Israel, the United States and Europe, and its products are sold in some 25,000 retail outlets around the world. It employs some 1,400 people in Israel.
It was founded in 1948 in Jaffa as a factory for making toys and household utensils. Joseph Sagol, Sami’s father, was among its founders and bought out his partners in 1971.