Verallia completes acquisition of Virdala’s Italian glass business
(Image credit: Verallia).09 Jul 2024 --- Verallia, the world’s third-largest producer of glass packaging for F&B products, has acquired Vidrala’s glass business in Italy, for an enterprise value of €230 million (US$248.9 million). The acquisition is financed with a three-year term loan set up with a pool of international banks.
Equipped with two recently renovated furnaces, the Corsico-based plant uses modern production facilities with a capacity of 225 kilotons annually and is active in the food, beer and spirits markets.
Following this acquisition, which was announced last March, the Verallia Group now operates seven production sites in Italy.
“The acquisition of the Corsico plant represents a real asset for Verallia’s growth. It is in line with our strategic plan to grow in key European markets. It is an opportunity to reinforce our operational excellence for the benefit of our customers,” comments Patrice Lucas, CEO at Verallia.
“I’m delighted with the outcome of this acquisition project, which will enable us to improve our industrial footprint in Italy, enhancing our ability to satisfy the expectations and needs of our customers,” adds Marco Ravasi, managing director Italy at Verallia.
Verallia oversees almost 11,000 employees and 34 glass production facilities in 12 countries. It positions itself as the world’s third-largest producer of glass packaging for beverages and food products.
The company offers customized and environmentally friendly solutions to over 10,000 businesses worldwide. Verallia produced more than 16 billion glass bottles and jars and recorded revenue of €3.9 billion (US$4.2 billion) in 2023.
Glass has long stood out for its sustainability and protective qualities. However, the recent shift in the alcohol industry toward lighter and more durable materials such as PET and paper has posed significant challenges for industry leaders in the glass packaging sector, who are now doubling down on innovation to sustain glass’ long-standing position.
In May, Packaging Insights spoke to a representative of Verallia about the company’s innovation around new production methods and product designs to strengthen glass’ standing in segments like soups and sauces.
