Reuters
Swedish engineering firm Trelleborg AB has agreed to acquire Minnesota Rubber and Plastics from private equity firm KKR & Co Inc for about $1 billion in cash, the companies said in a statement on Tuesday. The deal, which was first reported by Reuters, is expected to expand Trelleborg's polymer and plastics business in North America when it closes before the end of this year. KKR acquired Minneapolis-based Minnesota Rubber and Plastics from private equity firm Norwest Equity Partners for an undisclosed amount in 2018.