Verallia has successfully completed the acquisition of Vidrala’s glass business in Italy
- Vidrala’s Italian subsidiary operates from one production site in Corsico near Milan, with two furnaces. In 2023, the company generated revenue of €131 million and EBITDA of €33 million.
- This transaction reflects Verallia’s willingness to further invest in a strategic and growing market and expand its glass container offering for the food and beverage industry in Italy for the benefit of all its customers.
Following satisfaction of the regulatory filling and other conditions precedent, Verallia confirms that the acquisition of Vidrala’s glass business in Italy, for an enterprise value of €230 million, has been finalized today. The acquisition is financed with a 3-year Term Loan set up with a pool of international banks.
Equipped with two recently renovated furnaces, the Corsico-based plant benefits from modern production facilities with a capacity of 225Kt/year and enjoys a strong positioning, particularly in the beer, food and spirits markets. Nearly 200 employees will reinforce Verallia’s expertise, with a view to sharing knowledge and best practices.
Following this acquisition, the Verallia Group now operates 7 production sites in Italy.
For Patrice Lucas, Chief Executive Officer, Verallia:
“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. We extend a warm welcome to all Corsico teams.”
Marco Ravasi, Managing Director Italy, added:
“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.”