French glass manufacturer Verescence is facing a change of ownership again.
The producer of glass packaging for the perfume and cosmetics industry is in takeover negotiations with a consortium comprising two investment companies.
Its majority shareholder, Stirling Square Capital Partners is in discussions with Dutch investment company Movendo Capital, and the Portuguese investment management company Draycott.
The consortium wants to acquire a 100% stake in the company.
The French glass packaging producer has been owned by Stirling Square Capital Partners since February 2019 and was previously part of the portfolio of investment firm Oaktree Capital Management.
Julien Horreard, Partner at Stirling Square, said: "We wish the company all the best for this exciting next phase in its storied history."
Across its four glass facilities and five decorations facilities in France, Spain, USA and South Korea, Verescence produces more than 600 million bottles each year.
