Glass packaging giant Verallia has announced the successful completion of its ninth employee shareholding offer.

As of 20 June 2024, more than 3,800 employees, including 73% of French employees, had subscribed to the programme and become partners in the company’s development and performance.

Open from 2 May to 17 May 2024 in nine countries, the programme offered benefits including exclusive conditions for acquiring a stake in Verallia’s capital in the form of a 15% discount on the share price and a favourable matching contribution plan.

Total employee investment (including the company's matching contribution) came to more than €18.1m. Employees now own 4.5% of Verallia’s capital.

At the close, 611,445 new ordinary shares, representing 0.5% of the share capital and voting rights, were issued by Verallia.

As in previous years, to neutralise the dilutive effect of this operation, the company also reduced its capital by cancelling 611,445 treasury shares acquired under the share buyback programme.

The programme is part of Verallia’s corporate social responsibility (CSR) strategy.

Verallia CEO Patrice Lucas stated: “This scheme demonstrates once again that we are firmly committed to sharing value.”

In late February, the company agreed to acquire Vidrala's Italian glass business for an enterprise value of €230m.

Verallia produced more than 16bn glass bottles and jars and recorded revenue of €3.9bn in 2023.

"Verallia presses forward with employee partnership programme" was originally created and published by Packaging Gateway, a GlobalData owned brand.

 

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