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Ardagh concludes deal to increase glass business by 50%

21-Aug-2012

Ardagh has completed the acquisition of Anchor Glass to raise their share of the US glass industry to almost a quarter of the market.

Ardagh Group agreed a deal worth $880m (€721m) to buy Anchor Glass Container Corporation from Wayzata Investment Partners LLC last month.

The deal will increase the size of Ardagh’s glass business by 50% and result in a US glass industry market share of 23%.

Anchor is the third largest glass container manufacturer in the US, producing 5.6 billion containers annually from its eight facilities.

Speaking when the deal was first announced, Ardagh Group CEO, Niall Wall, said: “This transaction is very significant in the globalisation of Ardagh’s glass business and follows on from the recent acquisition of Leone Industries in New Jersey.

“Anchor is a technologically advanced business which has developed and manufactured an array or award-winning products for a range of household names in the food and beverage industries.”