Ardagh Glass Makes $2.3 Billion Acquisition
Ardagh Glass Group of Dublin, Ireland, has acquired the global metal packaging group Impress Coöperatieve U.A. for €1.7-billion (Cdn $2.34-billion) from British private equity fund manager Doughty Hanson & Co. The enlarged business will trade as Ardagh Packaging Group and is expected to have annual revenues of more than €3-billion (Cdn $4.14-billion). The acquisition is conditional on E.U. and U.S. competition authority approvals.
Impress, headquartered in The Netherlands, is the second-largest can manufacturer in Europe as well as the world’s biggest seafood can maker, with annual revenues of €1.8-billion (Cdn $2.49-billion), operating 57 facilities in 22 countries across five continents and employing 7,500 people. It is a major player in the European, North American and Australasian markets.
Ardagh Glass is currently the third-largest glass packaging manufacturer in Europe with revenues of €1.2-billion (Cdn $1.66-billion), operating 24 facilities in seven countries. It employs 6,500 people and provides glass packaging solutions to the food and beverage industry.
According to Ardagh chairman Paul Coulson: “This is a transformational deal for Ardagh providing us with global reach and scale. The acquisition of Impress will enable Ardagh to become a major force in world packaging."
Niall Wall, Ardagh’s chief executive officer says, "The newly enlarged group will operate 81 facilities with leading market positions across 24 countries. The new business will have considerable scale with sales in excess of €3 billion and employing 14,000 people."
For more information on Ardagh, visit www.ardaghglass.com.