Verallia Has Entered Into an Agreement to Acquire Vidrala's Glass Business in Italy

Regulatory News:

With this acquisition, Verallia (Paris:VRLA), one of Europe's main producers of glass packaging for beverages and food products, would expand its capabilities in the Italian market, where the Group would operate 7 production sites. Consideration for the transaction amounts to €230 million in enterprise value and will be financed by external debt.

In the words of Patrice Lucas, Chief Executive Officer, Verallia:

"This transaction is in line with our strategic plan and reflects our willingness to continue on our profitable growth path, including through targeted acquisitions, allowing us to complement our footprint in strategic geographies and improve our commercial and industrial presence in Italy. We continue to move forward with determination on any value creation opportunity, also for the benefit of our customers, whether through organic or external growth."

Marco Ravasi, Managing Director Italy, added:

"Serving our customers is a priority, which is why I am delighted with this opportunity to continue the development of our activities in the Italian market and to integrate the Corsico production site, which complements our footprint in Italy. We plan to further improve the service to our customers with an even broader product range and continue to grow our business in Italy.”

Information relating to the acquisition:

The completion of the transaction is subject to the approval of the Italian Competition Authority under the Italian merger control law and of the Italian Government under foreign investment rules as well as the customary conditions precedent. The Group aims to complete the acquisition between the second and third quarters of 2024.

About Verallia

At Verallia, our purpose is to re-imagine glass for a sustainable future. We want to redefine how glass is produced, reused and recycled, to make it the world’s most sustainable packaging material. We are joining forces with our customers, suppliers and other partners across the value chain to develop new, beneficial and sustainable solutions for all.

With more than 10,000 employees and 34 glass production facilities in 12 countries, we are the European leader and world's third-largest producer of glass packaging for beverages and food products. We offer innovative, customised and environmentally friendly solutions to over 10,000 businesses worldwide.

Verallia produced more than 16 billion glass bottles and jars in 2023 and recorded revenue of €3.9 billion. Verallia is listed on compartment A of the regulated market of Euronext Paris (Ticker: VRLA – ISIN: FR0013447729) and trades on the following indices: CAC SBT 1.5°, STOXX600, SBF 120, CAC Mid 60, CAC Mid & Small and CAC All-Tradable.

Disclaimer

Certain information included in this press release consists not of historical facts but of forward-looking statements. These forward-looking statements are based on current beliefs, expectations and assumptions, including, without limitation, assumptions regarding Verallia’s present and future business strategies and the economic environment in which Verallia operates. They involve known and unknown risks, uncertainties and other factors, which may cause actual performance and results to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include those discussed and identified in Chapter 4 ‘Risk Factors” of the Universal Registration Document approved by the AMF and available on both the Company’s website (www.verallia.com) and that of the AMF (www.amffrance.org). These forward-looking information and statements are no guarantee of future performance.

The historical financial information relating to the acquired activities presented in this press release has not been prepared by Verallia and has not been audited by its auditors.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240227742977/en/

The Verallia SASU Stock at the time of publication of the news with a raise of +0,06 % to 34,24EUR on Tradegate stock exchange (28. Februar 2024, 08:08 Uhr).