Orora has completed the acquisition of Saverglass, which is now formally part of the Orora Group.
Orora Group’s Managing Director and CEO Brian Lowe said, “We are extremely pleased to announce the completion of the acquisition of Saverglass. This further strengthens our existing business, and I look forward to working with the Saverglass team, led by CEO Jean-Marc Arrambourg, as we embark on this journey together.”
Saverglass President Jean-Marc Arrambourg said, “We at Saverglass are excited about this next chapter with the Orora Group. We are confident that Orora is the perfect partner for Saverglass to continue our development and leadership in the manufacture and decoration of high-end glass bottles for the wine and spirits market. We look forward to working together to further accelerate our growth trajectory.”
The enterprise value of the acquisition is €1,290m (A$2,156m), which was funded by an equity raising of approximately A$1,345 million and debt facilities.
For more information:
Orora
109 Burwood Road Hawthorn VIC 3122 Australia
Tel.: +61 3 9116 1711
ororagroup.com