Blue Ridge is one of the United States' biggest manufacturers of milk packaging among other package prioducts and is 55 per cent owned by investment group, KPS
Special Situations Fund, LP and 45
per cent owned by staff.
Though having made losses over the last six years, Blue Ridge chalks up annual sales of
US$570m and is understood to be recovering and attractive to Hart as a compliment to his other US packaging business recently acquired from International Paper for around $700m.
Hart is rapidly building a packaging empire having only entered the industry last year with the acquisition of Carter Holt Harvey for $3.3bn and is in the process of completing another $3.3bn takeover of Switzerland's SIG, the
world's second-biggest manufacturer of cartons for liquids.
Until recently thought to be eyeing the purchase of certain assets of Australia's Amcor, Hart would seem to be looking much further afield for complimentary assets in his grand scheme to put together complimentary packaging businesses.
