Vidrala Group, a leading company in the manufacturing of glass containers, has announced the acquisition of the entire share capital of Vidroporto SA. worth 384 million euros. This figure includes the minority stake acquired at the beginning of the year, the remaining majority stake acquired now and the debt assumed in the Brazilian company.
With this operation, Vidrala continues its internationalization process and expects it to contribute positively to the group's consolidated profits and cash generation since the beginning of its integration. The acquisition of Vidroporto represents a relevant step for Vidrala's long-term strategy, as it drives business diversification towards the growing Brazilian market and represents a base for potential future development in regions that will offer interesting opportunities and reinforce long-term alliances with strategic clients.
As he commented, Gorka Schmitt, CEO of Vidrala, “We continually analyze and value the different opportunities that arise in the various markets. This strategic move lays the foundations to establish a platform for the future, in regions that show promising potential for the growth of our people and our project.”
Vidroporto, with its subsidiary Indústria Vidreira do Nordeste, is a Brazilian producer of glass containers, founded on an industrial legacy. It has a management team with extensive experience and solid business relationships with strategic clients. Likewise, it operates two high-quality technological plants located in Porto Ferreira, state of São Paulo, southeast region, and Estância, state of Sergipe, northeast region, from where it supplies packaging to some of the main brands in Brazil in segments such as beer, liquors or soft drinks.
In the full year 2023, Vidroporto expects to achieve sales of approximately 850 million reais and an EBITDA of approximately 300 million reais. It should be noted that the Porto Ferreira plant has received a significant expansionary investment this year, which has been fully disbursed through a local debt that amounts to approximately 900 million reais as of the closing date of the transaction. The new facility, which has allowed Vidroporto's total production capacity to be increased by 35%, began activity at the beginning of the second half of this year, so it is expected to have an effect on the results for 2024.
