Verallia will acquire Vidrala's glass business in Italy

The French group Verallia, one of Europe's largest producers of glass containers for drinks and food products, announced the signing of an agreement to acquire the Italian subsidiary for the production of glass containers from the Vidrala group.

The Italian branch of Vidrala has one production site with two ovens in Corsico near Milan. In 2023, the company generated revenue of €131 million and EBITDA of €33 million.

With this acquisition, the Verallia Group will expand its capabilities in the Italian market, where it will operate seven production sites. The transaction amount is 230 million euros and will be financed by external debt.

Completion of the transaction is subject to the approval of the Italian competition authorities in accordance with Italian merger control law and the Italian government in accordance with foreign investment rules, as well as subject to customary conditions precedent. The group plans to complete the acquisition between the second and third quarters of 2024.

Source: Unipack.Ru