Wayzata is a premier suburb located 11 miles west of downtown Minneapolis. With a population of 4,500 people, Wayzata is a tight-knit community which is known for its vibrant downtown and picturesque setting on Lake Minnetonka. A popular destination for visitors, Wayzata’s downtown is home to a number of specialty shops, boutiques, professional services, and restaurants.

Tuesday, June 02, 2009

Wayzata Investment Partners lose Foamex, gain Caraustar

An offer of $141.5 million for Wayzata Investment Partners to acquire Foamex International was challenged by lenders who are owed $325 million dollars by Foamex, a foam manufacturer that voluntarily filed for reorganization under Chapter 11 in February, according to several media reports.
After an order from Bankruptcy Judge Kevin Carey in Wilmington, Del., the auction for the company was restarted and sale was approved to MatlinPatterson and Black Diamond, over Wayzata Investment Partners. The company was sold for $155 million on Wednesday, May 27.

Reuters: "Foamex gets court OK for sale to MatlinPatterson"

RTTNEWS: "Foamex obtains court approval for sale to MatlinPatterson/Black Diamond Group"

Wayzata Investment Partners will become the controlling shareholder of Caraustar Industries, a manufacturer of recycled paperboard and converted paperboard products, according to a Caraustar press release on June 1.

Carustar Industries: Press Release
Packaging News: "Private equity to take over Caraustar after Chapter 11 filing"


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