French firm to acquire Leeds bottlemaker in £315m deal
Leading European glass container maker Verallia will buy Leeds-based Allied Glass in a cash deal valued at £315 million, the French firm announced on Wednesday.
Allied is a leading player in the UK’s premium glass packaging market. It has factories in Leeds and Knottingley, employs more than 600 people. It had revenues of £138 in 2021, with expected revenues of £150 in 2022. It generates more than 95% of its income in the UK.
In July the firm announced a £38m refurbishment of its Leeds factory.
Verallia, which has signed a binding agreement with an affiliate of Sun European Partners LLP for the acquisition of 100% of Allied Glass, said the deal is expected to be completed by the middle of November. Sun European were advised by Baird.
Patrice Lucas, chief executive 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, chief executive 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.”
The acquisition will enable Verallia to benefit from Allied’s expertise in premium glass bottles, specifically in the Scotch whisky and gin sectors, and from its established position on the UK market, Verallia said.
