Beauty Packaging Staff01.27.20
Silgan Holdings Inc. has announced that it has signed a binding offer to acquire Albéa’s dispensing business for $900 million. This includes the global supplier’s pumps, sprayers and foam dispensing solutions to major branded consumer goods product companies in the Beauty and Personal Care markets. It operates a global network of 10 plants across North America, Europe, South America and Asia. According to Albéa, for the fiscal year ended 2018, this part of their business generated sales of approximately $383 million.
The proposed acquisition is expected to close in the first half of 2020 and is subject to the receipt of applicable regulatory approvals and the satisfaction of certain customary conditions. Upon completion of the required approvals, “Silgan expects that Albéa and certain of its subsidiaries will enter into a definitive purchase agreement with Silgan and certain of its subsidiaries for the purchase and sale of the business.”
“This proposed acquisition would significantly enhance the scope and breadth of our market leading closures franchise by bringing new products and capabilities in the highly engineered dispensing category, such as fine lotion dispensing solutions for skin care,” said Tony Allott, chairman and CEO, Silgan. “The Albéa dispensing business is a ‘hand-in-glove’ fit with our closures business.”
The proposed acquisition is expected to close in the first half of 2020 and is subject to the receipt of applicable regulatory approvals and the satisfaction of certain customary conditions. Upon completion of the required approvals, “Silgan expects that Albéa and certain of its subsidiaries will enter into a definitive purchase agreement with Silgan and certain of its subsidiaries for the purchase and sale of the business.”
“This proposed acquisition would significantly enhance the scope and breadth of our market leading closures franchise by bringing new products and capabilities in the highly engineered dispensing category, such as fine lotion dispensing solutions for skin care,” said Tony Allott, chairman and CEO, Silgan. “The Albéa dispensing business is a ‘hand-in-glove’ fit with our closures business.”
