Chelsea Industries has sold Webster Industries to AEP Industries

Lincoln International, a leading global mid-market investment bank, has announced that Chelsea Industries, Inc. (“Chelsea”) has sold Webster Industries, Inc. (“Webster” or the “Company”) to AEP Industries Inc. (“AEP”) (NasdaqGS:AEPI).

Founded in 1957, Webster is among the top five manufacturers, marketers and distributors of blown plastic film and high quality plastic cast film for food contact and trash bags in the United States. The Company produces a wide variety of high value-added products, cost-effectively marketed as both private label and control house brands directly to retailers and institutions. Webster sold 93 million pounds of product and recorded net sales of $145 million in 2010.

Brendan Barba, Chairman, President and Chief Executive Officer of AEP, commented, “This is an exciting opportunity for AEP, as it allows us to enter into a new market with significant cross-selling potential…the private-label market continues to thrive, and with a stronger, more diversified portfolio of products, we will be able to build on our success in the plastics industry and create additional long-term value for our shareholders.”

Lincoln International acted as the exclusive financial advisor to Chelsea, working closely with Webster senior management team throughout the sale process. This included managing the preparatory, marketing, negotiation and due diligence phases of the transaction.

Ronald Casty, President of Chelsea, commented, “Through a tailored marketing effort and clear understanding of Webster’s business and industry dynamics, Lincoln’s process created attractive alternatives for the shareholders resulting in a favorable strategic outcome.” Emil Bernstein, Executive Vice President of Chelsea, added, “Lincoln provided expert guidance to the management team throughout the sale process and helped Webster find a partner committed to growing the business.”

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