Loews Corp, a hotel, energy and financial services conglomerate, said on Tuesday it would buy plastic packaging manufacturer Consolidated Container Co from Bain Capital Private Equity for about $1.2 billion.
The deal is expected to be funded with about 50 percent cash on hand and 50 percent debt, Loews said in a statement.
Consolidated Container provides packaging solutions for beverage, food, and household chemicals. It will be a part of a newly-created segment called Loews Packaging Group.