Onex Corp., Canada, acquired SIG Combibloc Group AG for up to $4.66 billion. The transaction is anticipated to close in the first quarter of 2015, subject to customary conditions and regulatory approvals.

SIG is a provider of aseptic carton packaging globally. Based in Switzerland, SIG provides beverage and food producers with a comprehensive product portfolio of aseptic carton sleeves and closures, as well as the filling machines that producers and packagers use with these sleeves. The company operates seven production facilities globally in Europe, South America and Asia Pacific. SIG has 5,200 employees serving a mix of leading multi-national and regional customers in more than 40 countries worldwide.

“SIG’s management team has successfully proven its ability to enter and grow in new markets, while maintaining its standard of excellence in existing markets,” says Nigel Wright, managing director in Onex’ London office. “We look forward to partnering with Rolf Stangl [chief executive officer of SIG Combibloc Group AG] and his team to further build upon SIG’s impressive track record and continue its growth.”

“Our commitment to providing customers with a premier aseptic carton packaging system has made SIG a leader within our industry,” adds Stangl. “We are excited about our next phase of growth in partnering with Onex.”

The equity investment of approximately $1,250 million will be made by Onex Partners IV, certain limited partners as co-investors, including Onex and SIG’s management team.