US rigid packaging supplier Silgan Holdings (Stamford, Connecticut; www.silganholdings.com) has bought US packaging firm Gateway Plastics (Mequon, Wisconsin; www.gatewayplastics.com) for USD 485m (EUR 414m).

Gateway produces dispensing closures and integrated dispensing packaging solutions for a range of consumer goods product companies, primarily in the food and drink markets. In its 2021 financial year, Gateway expects sales of around USD 150m and USD 46m in adjusted EBITDA. Silgan achieved sales of USD 4.9 bn last year with dimensionally stable packaging and closure solutions made of plastic and metal. The group operates 110 manufacturing facilities worldwide. Silgan, which funded the deal via its senior secured credit facility, said it expected the acquisition to save USD 2m in procurement costs within 12 months.

Adam Greenlee, Silgan’s president and chief executive, said Gateway’s capacity for growth was enhanced by its state-of-the-art equipment and market-leading capabilities. “We believe Gateway’s advanced automation platform can be leveraged across much of Silgan’s manufacturing footprint.”

At the beginning of 2020, Silgan acquired the dispensing division – pumps, sprayers and foam dispensers made of plastic – of packaging group Albéa (Gennevilliers / France; www.albea-group.com) for around USD 900m (see Plasteurope.com of 28.01.2020). In 2017, it purchased the dispensing systems business of WestRock (Norcross, Georgia / USA; www.westrock.com) for USD 1.03 bn, with a total of 13 production sites, seven of which are in Europe (see Plasteurope.com of 26.04.2017).