Verallia is to acquire Vidrala's glass business in Italy.

Italian subsidiary operates from one production site in Corsico near Milan, with two furnaces.

It means Verallia would expand its capabilities in the Italian market, where the group would operate seven production sites.

Consideration for the transaction amounts to €230 million in enterprise value and will be financed by external debt.

Verallia CEO Patrice Lucas said: “This transaction is in line with our strategic plan and reflects our willingness to continue on our profitable growth path, including through targeted acquisitions, allowing us to complement our footprint in strategic geographies and improve our commercial and industrial presence in Italy.”

Marco Ravasi, Managing Director of Verallia Italy, added: “Serving our customers is a priority, which is why I am delighted with this opportunity to continue the development of our activities in the Italian market and to integrate the Corsico production site, which complements our footprint in Italy.”