Ardagh buys Anchor Glass

  

Ardagh Group is to buy US-based Anchor Glass Container Corporation for US $880 million (€721 million).

Ardagh is buying Anchor from Wayzata Investment Partners and the deal is expected to close at the end of August 2012.

Anchor, which is headquartered in Tampa, Florida, is a manufacturer of glass containers serving the North American food and beverage industries.

Anchor is the third largest glass container manufacturer in the US and produces 5.6 billion containers annually from its eight facilities in the USA.

It has employs 2700 people and has annual revenues of approximately $800 million (€656 million).

Paul Coulson, Ardagh Chairman, said the deal would incease the size of Ardagh’s glass business by 50% and help develop its USA operations.

Ardagh will also raise $920 million in senior secured notes to pay for the acquisition.