Vidrala SA, through its subsidiary Inverbeira Sociedad de Promoción de Empresas, SA, has acquired the company Encirc Limited, in accordance with article 82 of Law 24/1988, on the Stock Market and other applicable legislation.
Encirc Limited is a manufacturer of glass containers for the food and beverage sector with activities in Ireland and the United Kingdom, where it has a strong customer base. Its estimated sales for 2014 are in the range of 243-245 million pounds and its EBITDA in the range of 47-48 million pounds. The company operates two plants located in Derrylin (Northern Ireland) and Elton (England), from which it offers a full range of services, including, in addition to the manufacture of glass containers, packaging processes and logistics services.
The value of the transaction has amounted to 408,6 million euros (company value), including the price of the shares and the debt assumed, which has been fully disbursed through new financing issued for the acquisition.
The transaction will extend Vidrala's position in the European glass container market.
