UK-based RPC Group is set to purchase closure and dispensing systems manufacturer Global Closure Systems (GCS; Saint Cloud, France) for 650 million euros ($712 million) on a cash-free, debt-free basis to expand its reach in the European plastics packaging market. The deal, which is expected to close by the end of March 2016, will add to RPC's earning per share in the first full year after completion.

The deal marks an exit for private-equity firm PAI Partners which bought GCS Group in 2005 for 583 million euros from Crown Holdings. Once the deal is finalized, RPC will pay 186 million euros in cash on completion of the deal to the sellers of GCS.

RPC, which supplies rigid plastics packaging products and plastic containers, makes packaging for Beiersdorf's Nivea skin creams and Nescafe coffee capsules. This latest purchase follows the high-profile acquisitions of Promens Group AS (Iceland) in 2014 and Denmark's Superfos in 2011.

GSC’s portfolio includes plastics closures for various beverage and pharmaceutical products and it operates 21 manufacturing facilities, two mold shops and regional sales offices in 13 countries.