Sale of Berlin Packaging completed

Chicago-based Berlin Packaging has been acquired by private equity firm Oak Hill Capital Partners.

Oak Hill said Monday it has completed the deal with Investcorp. The sale was valued at $1.43 billion, including debt, when it was announced in August. Oak Hill invested in partnership with Berlin Packaging’s management team, led by Chairman and CEO Andrew Berlin. Mr. Berlin and the management team will continue to lead the business.

Berlin Packaging, founded in 1898, is a leading supplier of rigid packaging products in North America. It has annual sales approaching $800 million.

Andrew Berlin has run Berlin Packaging since 1988. He’s also a limited partner of the Chicago White Sox and owner of the South Bend Silver Hawks baseball team.