The private equity firm Arle Capital Partners said on Monday that it had agreed to acquire the Innovia Group, a company set to supply materials for Britain's new plastic bank notes.

The deal gives Innovia, based in Wigton, England, an enterprise value of 498 million euros, or about $690 million.

Innovia, which employs about 1,600 people, is a maker of films used in labeling, packaging and polymer bank notes. It was awarded a contract this year to supply materials for the new plastic 5 pound and 10 pound notes.

The new notes are expected to be introduced beginning in 2016, with a new "fiver" featuring the visage of Winston Churchill.

To read the complete article, see:Arle Capital to Buy Supplier of Plastic Bank Notes(dealbook.nytimes.com/2014/04/28/arle-capital-to-buy-supplier-in-new-british-bank-notes/)