FRANCE – French producer of glass containers for food and beverages, Verallia has signed an agreement with an affiliate of Sun European Partners to acquire Allied Glass, a supplier of glass packaging based in the UK for US$354 million (£315m).
This acquisition will enable Verallia to benefit from Allied’s expertise in premium glass bottles, specifically in the Scotch Whisky and Gin sectors, and from its established position in the UK market. It is expected to close later this month.
With this transaction, Allied Glass will integrate an international group, European leader in the glass containers for the food and beverage sector, which will allow it to take advantage of its expertise and its long-term vision.
Verallia CEO Patrice Lucas said: “This acquisition of Allied Glass is fully in line with our strategy, which is to accelerate our investments in key markets while leveraging our industrial, technological and management expertise to generate synergies.
“This is a great milestone too, as the group will be present on the UK market, I am confident that this combination will create sustainable value for customers, employees and shareholders.
“Finally, I am delighted to welcome Alan Henderson (to) the Executive Committee team of Verallia.”
Commenting on the deal, Alan Henderson, Chief Executive at Allied Glass said: “Integrating Allied into an international Group, one of the main world leaders in glass manufacturing for food and beverage, is a thrilling challenge for Allied. Based on our respective strengths, the two companies will benefit from strong synergies.
“Whilst our customers in the UK market will continue to benefit from the same level of quality of service locally, we believe we can further improve our market offering through the support and knowledge of the wider Verallia group.”
Headquartered in Leeds, Allied Glass is a leading player in the premium glass packaging market in the United Kingdom.
The company specializes in designing, developing and manufacturing glass packaging with a focus on the premium spirits end market. It emphasizes sustainability through its environmental, social and governance (ESG) policy.
With four furnaces in West Yorkshire and around 600 employees, Allied Glass generates more than 95% of its revenues in the UK.
For the 12 months to last December, the firm generated revenue of US$155 million(£138m) and expects this to exceed US$169 million (£150m) in fiscal 2022 (FY22).
Verallia said it expects to benefit from Allied Glass’ experience in premium glass bottles, specifically in the Scotch Whisky and Gin sectors.
The acquisition will also expand Verallia’s manufacturing capability in Northern Europe and strengthen its position in premium glass bottles for the spirits market.
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