Ardagh Glass acquires Impress Metal Packaging for €1.7 billion 

New enlarged entity to be named Ardagh Packaging Group 

Ardagh Glass Group is pleased to announce the acquisition of global metal packaging group Impress Coöperatieve U.A. for €1.7 billion from private equity firm Doughty Hanson. The enlarged business will trade as Ardagh Packaging Group and will have annual revenues of more than €3 billion. The acquisition is conditional on EU and US competition authority approvals. 

Impress is a global metal packaging company with annual revenues of €1.8 billion, operating 57 facilities in 22 countries across five continents and employing 7,500 people. It is a major player in the European, North American and Australasian markets. 

Ardagh Glass is currently the third largest glass packaging manufacturer in Europe with revenues of €1.2 billion, operating 24 facilities in seven countries. It employs 6,500 people and provides glass packaging solutions to the food and beverage industry. 

Commenting, Ardagh Chairman Paul Coulson said: 

“This is a transformational deal for Ardagh providing us with global reach and scale. The acquisition of Impress will enable Ardagh to become a major force in world packaging." 

Also commenting, Niall Wall, Ardagh's CEO, said: 

"The newly enlarged group will operate 81 facilities with leading market positions across 24 countries. The new business will have considerable scale with sales in excess of €3 billion and employing 14,000 people." 

In connection with the acquisition, Ardagh plans to offer approximately €1.7 billion of secured and unsecured notes in euros and US dollars. The Senior Secured Notes will be guaranteed on a senior secured basis by Ardagh Glass Holdings Limited and certain of its wholly-owned subsidiaries. The Senior Notes will be guaranteed on a senior basis by Ardagh Glass Holdings Limited and on a senior subordinated basis by certain of its wholly-owned subsidiaries. 

Citi is acting as exclusive financial advisor to Ardagh in relation to this transaction. 

Contact: Ed Micheau, Murray Consultants, +353 86 803 7155 

17 January, 2011
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