Press Release

Mesirow Financial Advises Bennu Glass Llc On Its Sale To Owens-Illinois, Inc.

CHICAGO, March 2, 2015 – Mesirow Financial acted as the exclusive financial advisor to Bennu Glass LLC (“Bennu” or the “Company”) on the sale of its assets to Owens-Brockway Glass Container, Inc., a subsidiary of Owens Illinois, Inc. (collectively, “O-I”). Bennu was a portfolio company of the CK Pearl Funds, which is managed by Crestline-Kirchner, L.P.

Located in Kalama, Washington, Bennu operates a state-of-the-art glass bottle manufacturing facility that is one of the newest and most energy-efficient wine bottle operations in the U.S. The facility has an estimated total annual capacity of 87,500 U.S. tons, producing a portfolio of wine and beer bottles in the most desirable shapes, sizes and colors for OEMs, distributors and wine producers in California, Oregon and Washington.

Dwayne Wendler, COO of Bennu commented, “We are excited to be partnering with O-I and are confident that this strategic combination will ensure a successful future for Bennu. Mesirow Financial’s industry knowledge and expert guidance culminated in a successful outcome for our stakeholders.”

Louis Mitchell, managing director of Mesirow Financial’s Investment Banking group said, “Mesirow Financial was honored to represent Bennu and its stakeholders in this transaction. We believe the Company’s state-of-the-art facility, coupled with its strong position in the Northwest glass wine and beer bottle market, presents an exciting future for this strategic partnership.”

The transaction represents another successful assignment completed by Mesirow Financial's Investment Banking group. Mesirow Financial is one of the most active advisors in the paper, plastics, packaging and specialty printing sectors, having completed over 100 transactions in recent years.

About Crestline-Kirchner, L.P.
Crestline-Kirchner Private Equity Group was formed in 2013 as a joint venture between Crestline Investors, Inc. and Bud Kirchner, founder of the Kirchner Group, who brings a long track record of executing this “Successor GP” strategy and is often credited as its pioneer. Crestline-Kirchner acquires and manages portfolios of private assets made available through restructurings, orphaned portfolios, manager transitions, end of fund life scenarios and related special situations. The joint venture allows Crestline-Kirchner to deliver experience-driven entrepreneurial solutions within the operational framework of an institutionally scaled and regulated platform. In addition to the investment professionals within the joint venture, Crestline-Kirchner leverages the complimentary resources of both firms.  For more information, please visit

About Owens-Illinois, Inc.
Owens-Illinois, Inc. (NYSE:OI), through its subsidiaries, manufactures and sells glass container products to food and beverage manufacturers primarily in Europe, North America, South America, and the Asia Pacific. It produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine. The company is also involved in the production of glass packaging for various food items, soft drinks, teas, juices, and pharmaceuticals. O-I has approximately $6.8 billion of revenue, more than 21,000 employees and 75 plants in 21 counties. For more information, please visit

Nothing contained herein constitutes an offer to sell or a solicitation of an offer to buy an interest in any Mesirow Financial investment vehicle(s). Mesirow Financial, Inc. is not affiliated with Bennu Glass LLC, Owens-Brockway Glass Container, Inc., Owens Illinois, Inc., CK Pearl Funds, Crestline-Kirchner, L.P. or their affiliates. Past performance is not indicative of future results. Mesirow refers to Mesirow Financial Holdings, Inc. and its divisions, subsidiaries and affiliates. Securities offered through Mesirow Financial, Inc. member FINRA, SIPC.

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