BA Glass is to acquire a majority stake in Mexican container glass manufacturer Vidrio Formas.
The Portuguese glass producer said its presence into a new continent will open opportunities.
“With this acquisition, BA Glass strengthens its position in the glass packaging industry, increases its international presence and leverages the industrial and commercial capabilities of the group to develop and enhance Vidrio Formas industrial platform.”
Vidrio Formas is a glass producer and supplier of food and liquor glass containers for the Mexican, North and Central American and Caribbean markets.
It operates two glass plants in Lerma, which is approximately 60km west of Mexico City.
The expansion of its plant 2 facility was completed late last year, which expanded the plant’s capacity to 320t/day.
It meant the company had increased its capacity by 65% in two years. It had a turnover of €125 million in 2022.
Sandra Santos, BA Glass Group CEO, said the acquisition would combine the knowledge and experience of both companies.
“The most relevant assets of any company are its people and customers, and we found many of those in Vidrio Formas."
After the acquisition, BA Glass will have more than €1.8 billion of turnover and €600 million of EBITDA. It will increase its team to 4,800 employees with more than 15 nationalities.
BA Glass is the fourth largest glass packaging producer in the world. It serves the food and beverage markets with 12 plants located in Europe, an annual production of more than 10 billion of glass and jars and sales over €1.5 billion in 2022.
The transaction is expected to be closed before the end of the year.