Verallia, one of Europe's leading manufacturers of glass packaging for food and beverages, has entered into an agreement to acquire Vidrala's glass business in Italy to expand its capacity in the Italian market to a total of seven production sites. The transaction has an enterprise value of 230 million euros and will be financed through external debt.
Patrice Lucas, CEO of Verallia, said:
This transaction is in line with our strategic plan and reflects our desire to pursue sustainable growth, including through targeted acquisitions that will allow us to consolidate our presence in strategic geographic areas and strengthen our commercial and industrial presence in Italy. We are committed to seizing every opportunity to create value, also for the benefit of our customers, through both organic growth and acquisitions.
Marco Ravasi, General Manager of Verallia Italia, added:
Serving our customers is a priority, which is why I enthusiastically welcome this opportunity to further develop our activities in the Italian market by integrating the Corsico production facility, which will consolidate our presence in Italy. We plan to further improve the service we offer our customers with an even wider range of products and to continue to grow our business in Italy.
