GLASS container producer Verallia has signed a binding agreement with an affiliate of Sun European Partners LLP for the acquisition of Allied Glass, a specialist in the UK premium glass packaging sector with a strong focus on premium spirits.
The move will enable Verallia to benefit from Allied’s expertise in premium glass bottles, specifically in the Scotch whisky and gin sectors.
Headquartered in Leeds, Allied Glass has four furnaces in West Yorkshire and around 600 employees. The firm generated revenue of £138 million in the fiscal year ended December 2021 and over £150 million of revenues are estimated for 2022.
Patrice Lucas, CEO of Verallia, said, “This acquisition of Allied Glass is fully in line with our strategy which is to accelerate our investments in key markets while leveraging our industrial, technological and management expertise to generate synergies. I am convinced that Verallia and Allied Glass have an outstanding fit as we share common vision and values.
“This is a great milestone too, as the group will be present on the UK market. I am confident that this combination will create sustainable value for customers, employees and shareholders. Finally, I am delighted to welcome Alan Henderson in the executive committee team of Verallia.”
Alan Henderson, CEO of Allied Glass, added, “Integrating Allied into an international group, one of the main world leaders in glass manufacturing for food and beverage, is a thrilling challenge for Allied. Based on our respective strengths, the two companies will benefit from strong synergies.
“Whilst our customers in the UK market will continue to benefit from the same level of quality of service locally, we believe we can further improve our market offering through the support and knowledge of the wider Verallia group.”
Verallia will acquire 100% of the capital of Allied Glass. The transaction is valued at approximately £315 million (enterprise value). Verallia expects to complete the acquisition by mid-November.
