Ardagh Group to sell six former Anchor Glass plants to investment firm; closing of transaction subject to approval of Federal Trade Commission
April 14, 2014
– Ardagh Group announces that it has entered into a definitive agreement to sell six former Anchor Glass plants, together with certain related assets, to an affiliate of KPS Capital Partners, LP (“KPS”). The closing of the transaction is subject to the satisfaction of customary closing conditions, including approval of the Federal Trade Commission.
Following the acquisition of Verallia North America (“VNA”), on 11 April 2014, and the completion of the divestment of these assets to KPS, Ardagh’s North America Glass Division will generate annual revenues of approximately US$2 billion from 16 glass manufacturing facilities, employing 5,000 people.
About the Ardagh Group
Ardagh Group, based in Luxembourg, is a global leader in glass and metal packaging solutions, producing packaging for most of the world's leading food, beverage and consumer care brands. Following the acquisition on 11 April 2014 of VNA and the above transaction with KPS, Ardagh will operate from over 100 locations in 24 countries, employing 20,000 people and have global sales of some €4.8 billion ($6.5 billion).