White & Case advises Verallia on acquisition of Allied Glass for £315 million
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Global law firm White & Case LLP has advised Verallia on the acquisition of Allied Glass from Sun European Partners LLP.
Verallia will acquire 100 percent of the capital of Allied Glass at an enterprise value of approximately £315 million. The acquisition will be financed by Verallia’s existing cash, whilst maintaining the Verallia Group’s leverage below two times net debt/adjusted EBITDA. The acquisition is expected to complete by mid-November 2022.
Verallia is the leading European and the world’s third largest producer of glass containers for food and beverages. It is listed on the regulated market of Euronext Paris.
Headquartered in Leeds, England, Allied Glass manufactures premium glass packaging. The company has four furnaces located in West Yorkshire and approximately 600 employees. In the fiscal year ending December 2021 Allied Glass generated revenue of £138 million.
White & Case previously advised Verallia on its initial public offering (IPO) on Euronext Paris in 2019.
The White & Case team which advised on the transactions was led by partners Thomas Le Vert (Paris) and Tony Brown (London) and included partners Jean Paszkudzki, Estelle Philippi, Alexandre Jaurett, Raphaël Richard, Samir Berlat (all Paris), Martin Forbes, Helen Joseph, Victoria Landsbert, Tim Hickman, Jonah Anderson (all London) and Philip Trillmich (London, Frankfurt), counsel Tallat Hussain (London) and associates Boris Kreiss, Claire Sardet, Charles Connesson (all Paris), Daniel Mansfield, Michael Skouras and Anna Rawlence (all London).
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