The Public Sector Pension Investment Board and private equity firm BC Partners will be acquiring a majority stake in consumer goods manufacturer Keter Group.

Based in Israel, Keter Group designs and produces a wide array of resin-based goods, such as indoor and outdoor furniture, home accessories and hardware products, and distributes them globally to more than 25,000 retail outlets. The company operates 18 factories across nine countries, with more than 4,000 employees around the world.

Read: Ontario Teachers’, PSP increase stakes in sustainable investment firm

“Our investment in Keter is another example of our private equity strategy to invest in innovative companies with attractive growth prospects, alongside select partners that provide sector expertise and geographic diversity,” Guthrie Stewart, senior vice-president and global head of private investments at PSP Investments, said in a release.

Keter Group’s current owners, the Sagol family, will retain a minority stake in the company and plans to reinvest with BC Partners.

Read: PSP Investments’ assets generated 1% return in last fiscal year

 

Copyright © 2020 Transcontinental Media G.P. Originally published on benefitscanada.com

Join us on Twitter