The owners of Israeli outdoor furniture maker Keter Plastic have agreed to sell 80 percent of the company to European private equity house BC Partners [BCPRT.UL] in a deal that values Keter at $1.7 billion, Israeli media reported on Wednesday.
Two of Israel's main financial news websites, Globes and Calcalist, reported on the deal but did not attribute their information.Officials at Keter in Israel and at BC Partners were not immediately available for comment.
Keter specializes in resin-based storage solutions, do-it-yourself products and household goods, including plastic garden sheds and bathroom cabinets. It operates 29 plants in Israel, Europe and the United States and employs about 1,400 people in Israel.
Keter's owner, Sami Sagol, and his advisers had previously selected BC Partners along with US buyout fund Carlyle (CG.O) and CVC [CVC.UL] to submit binding offers.
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