SILGAN
Acquisition of Portola Packaging now complete
US rigid packaging supplier Silgan Holdings (Stamford, Connecticut; www.silganholdings.com) has completed its purchase of US plastic closures manufacturer Portola Packaging (Tolleson, Arizona; www.portpack.com) for USD 266m (EUR 193m) – see Plasteurope.com of 16.08.2013. Silgan said it expects the acquisition to be slightly dilutive to earnings in 2013, and then slightly accretive to earnings, becoming more accretive as synergies are phased in over the next 18 months.
Portola Packaging had sales of about USD 200m in 2012 and operates eight facilities in North America and Europe.
Portola Packaging had sales of about USD 200m in 2012 and operates eight facilities in North America and Europe.
25.10.2013 Plasteurope.com [226666-0]
Published on 25.10.2013
German version of this article...