• 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.

PARIS, July 04, 2024--(BUSINESS WIRE)--Regulatory News:

Following satisfaction of the regulatory filling and other conditions precedent, Verallia (Paris:VRLA) 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."

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 work together with our customers, suppliers and other partners across the value chain to develop new, beneficial and sustainable solutions for all.

With almost 11,000 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 and recorded revenue of €3.9 billion in 2023.