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
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