(Boursier.com) — Verallia has entered into an agreement to acquire the glass activities of Vidrala in Italy. With this acquisition, the producer of glass packaging for drinks and food products would expand its capabilities in the Italian market, where the group would then operate 7 production sites. The amount of the transaction amounts to 230 million euros in enterprise value and will be financed through external debt.
Patrice Lucas, Managing Director of Verallia, declares:
“This transaction is a continuation of our strategic plan and reflects our desire to continue our profitable growth, including through targeted acquisitions allowing us to complete our footprint in strategic geographies and expand our commercial and industrial presence in Italy. We continue to move forward with determination on any opportunity to create
value, also for the benefit of our clients, whether internal or external growth.
Marco Ravasi, Managing Director Italy, adds: “Serving our customers is a priority, which is why I welcome this opportunity to continue the development of our activities in the Italian market and to integrate the Corsico production site, which complements our presence in Italy. We plan to further improve the service to our customers with an even richer product range and continue to grow our business in Italy.”
Acquisition information
The completion of the transaction is subject to the approval of the Italian Competition Authorities under the Italian Merger Control Law and the Italian Government under the foreign investment regulations, as well as to the conditions precedent of use. The Group aims to finalize the acquisition between the second and third quarters of 2024.
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