Ardagh Group has entered into an agreement with Ball Corporation and Rexam to purchase certain metal beverage can manufacturing assets and support locations in Europe, Brazil and the United States for an enterprise value of US$3.42 billion including assumed liabilities of US$210 million.
The completion of the acquisition is subject to certain conditions including regulatory approval and the closing of Ball’s acquisition of Rexam.
Ardagh will acquire ten beverage can manufacturing plants and two end plants in Europe, seven beverage can manufacturing plants and one end plant in the US.
It will also own two beverage can manufacturing plants in Brazil and certain innovation and support functions in Germany, the UK, Switzerland and the US.
These assets had 2015 sales of US$3 billion and standalone EBITDA of approximately US$400 million.
The business to be acquired by Ardagh will be the number three beverage can manufacturer globally, number two in Europe and number three in the United States and Brazil.
