Ardagh Glass completes acquisition of Impress
Ardagh Glass Group has today (7 December) completed the acquisition of global metal packaging group Impress Coöperatieve U.A. for €1.7 billion ($2.2bn).
Both the European and US regulatory authorities have approved the deal to create an enlarged organisation which will be known as Ardagh Group.
London-based private equity company Doughty Hanson agreed to sell the shares of Impress Coöperatieve U.A. to the glass bottle manufacturer back in September.
After examining the operation, the European Commission concluded “that the transaction would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it.”
The closing of the acquisition has concurrently resulted in the refinancing of certain debts of the combined group.
As a leading diversified global packaging business, Ardagh Group will operate 81 facilities and hold either number one or number two positions in nearly all its served markets across 24 countries. The group will employ approximately 14,000 people and have annual revenues of over €3 billion ($4bn).