Silgan setting sights on Eastern Europe
Silgan Holdings Inc. has reached a definitive agreement to purchase the food can business of Austrian-based canmaker Vogel & Noot in a deal estimated at about $330 million.
STAMFORD, Conn. – Leading consumer packaging products group Silgan Holdings Inc. has reached a definitive agreement to purchase the food can business of Austrian-based canmaker Vogel & Noot in a deal estimated at about $330 million.
Headquartered in Vienna, Vogel & Noot currently operates 12 food can manufacturing facilities throughout central and eastern Europe, generating revenues of nearly $330 million per year.
“As a leader in the metal food can business, we are excited about the opportunity to expand the Silgan franchise as we partner with our global customers to support their growth in the central and developing eastern European markets,” says Silgan president Tony Allott, adding he expect the deal to close in the first quarter of 2011, subject to regulatory approvals and completion of certain closing conditions.
“The Vogel & Noot team has a proven track record of successful growth in this diverse geographic area, and we are pleased to be able to combine efforts with them to continue to enhance our metal food can position in these important markets and around the world,” Allott states.
“With plants currently operational in Germany, Austria, Poland, Greece, Macedonia, Belarus, Slovakia, and Slovenia and several new locations scheduled to come online in the near term, the business is uniquely positioned to meet the growing needs of these markets and our global customers.”
Currently operating 68 production facilities across North and South America, Europe and Asia, Silgan is North America’s largest manufacturer of metal containers for food products and one of leading suppliers of plastic containers for personal-care products—generating revenues of approximately $3.1 billion in 2009. The company also ranks as one of the world’s biggest suppliers of metal, composite and plastic vacuum closures for food-and-beverage products.