Verallia has Successfully Completed the Acquisition of Vidrala’s Glass Business in Italy

Verallia has Successfully Completed the Acquisition of Vidrala's Glass Business in Italy

Issuer

VERALLIA

• Vidrala's Italian subsidiary operates from one production site in Corsico near Milan, with two furnaces. In 2023, the company generated revenue of €131 million and EBITDA of €33 million.
• This transaction reflects Verallia's willingness to further invest in a strategic and growing market and expand its glass container offering for the food and beverage industry in Italy for the benefit of all its customers.

Regulatory News:

Following satisfaction of the regulatory filling and other conditions precedent, Verallia (Paris:VRLA) confirms that the acquisition of Vidrala's glass business in Italy, for an enterprise value of €230 million, has been finalized today. The acquisition is financed with a 3-year Term Loan set up with a pool of international banks.

Equipped with two recently renovated furnaces, the Corsico-based plant benefits from modern production facilities with a capacity of 225Kt/year and enjoys a strong positioning, particularly in the beer, food and spirits markets. Nearly 200 employees will reinforce Verallia's expertise, with a view to sharing knowledge and best practices.

Following this acquisition, the Verallia Group now operates 7 production sites in Italy.

For Patrice Lucas, Chief Executive Officer, Verallia:

"The acquisition of the Corsico plant represents a real asset for Verallia's growth. It is in line with our strategic plan to grow in key European markets. It is an opportunity to reinforce our operational excellence for the benefit of our customers. We extend a warm welcome to all Corsico teams."

Marco Ravasi, Managing Director Italy, added:

"I'm delighted with the outcome of this acquisition project, which will enable us to improve our industrial footprint in Italy, enhancing our ability to satisfy the expectations and needs of our customers."

About Verallia

At Verallia, our purpose is to re-imagine glass for a sustainable future. We want to redefine how glass is produced, reused and recycled, to make it the world's most sustainable packaging material. We work together with our customers, suppliers and other partners across the value chain to develop new, beneficial and sustainable solutions for all.

With almost 11,000 employees and 34 glass production facilities in 12 countries, we are the European leader and world's third-largest producer of glass packaging for beverages and food products. We offer innovative, customised and environmentally friendly solutions to over 10,000 businesses worldwide. Verallia produced more than 16 billion glass bottles and jars and recorded revenue of €3.9 billion in 2023.

Verallia's CSR strategy has been awarded the Ecovadis Platinum Medal, placing the Group in the top 1% of companies assessed by Ecovadis. Our CO₂ emissions reduction target of -46% on scopes 1 and 2 between 2019 and 2030 has been validated by SBTI (Science Based Targets Initiative). It is in line with the trajectory of limiting global warming to 1.5° C set by the Paris Agreement.

Verallia is listed on compartment A of the regulated market of Euronext Paris (Ticker: VRLA - ISIN: FR0013447729) and trades on the following indices: CAC SBT 1.5°, STOXX600, SBF 120, CAC Mid 60, CAC Mid & Small and CAC All-Tradable.

Disclaimer

Certain information included in this press release is not historical data but forward-looking statements. These forward-looking statements are based on estimates, forecasts and assumptions including, but not limited to, assumptions about Verallia's present and future strategy and the economic environment in which Verallia operates. They involve known and unknown risks, uncertainties and other factors, which may cause Verallia's actual results and performance to differ materially from those expressed or implied in such forward-looking statements. These risks and uncertainties include those detailed and identified in Chapter 4 "Risk Factors" of the universal registration document approved by the AMF and available on the Company's website (www.verallia.com) and that of the AMF (www.amf-france.org). These forward-looking statements and information are not guarantees of future performance. This press release includes summarized information only and does not purport to be exhaustive.

The historical financial information relating to the acquired businesses presented in this press release has not been prepared by Verallia and has not been audited by its statutory auditors.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240704606406/en/

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