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BA Vidro to jointly acquire Anchor Glass for $1 billion

, Glass International

Portuguese container manufacturer BA Vidro, in partnership with CVC Capital Partners financial group, is to buy USA’s Anchor Glass for $1 billion.

It is BA Vidro’s third purchase in recent weeks following its acquisitions of Greece’s Yioula Glass and HNG Global in Germany.

Anchor Glass has six manufacturing facilities, 11 furnaces and 31 machines that produce nearly 5 billion glass containers a year. It serves companies covering the beer, food and beverage, liquour and ready-to-drink products.

The manufacturing facilities are located in Florida, Georgia, Indiana, Minnesota, New York and Oklahoma, in addition to an engineering and spare parts facility in Illinois and a mould design and manufacturing facility in Ohio.

BA Glass manufactures glass bottles from facilities across Portugal, Spain, Poland and Germany. The deal with CVC is expected to help Anchor Glass capitalise on market opportunities as it enters its next phase of development.

CVC Capital is a London, UK private equity and investment advisory firm and has raised more than $65 billion in commitments since the firm’s inception in 1981.

The seller is KPS Capital Partners which bought Anchor in 2014.

Carlos Moreira da Silva, Chairman of BA Glass, said: "Anchor is an outstanding industry player, with a strong position in the highly attractive US market. We are very excited to work with management and CVC to further enhance Anchor's existing successes."

Jim Fredlake, CEO of Anchor, commented: "The combination of BA Glass's manufacturing expertise and CVC's global network and industry knowledge will be invaluable to us as we enter the next phase of development."

The deal is expected to close by the end of this year.

, Glass International

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