Orora acquires global high-end glass bottles manufacturer Saverglass

Orora has acquired Saverglass, one of the global leaders in the design, manufacturing, customisation and decoration of high-end bottles for the premium and ultra-premium spirit and wine markets. 

Saverglass is one of the leading global manufacturers of premium and ultra-premium glass bottles, servicing luxury spirits and wine producers globally, and differentiating its offering through its integrated decoration capabilities. 

The company created a well-invested network of strategically located manufacturing operations across three continents, located near key production regions and servicing customers in more than 100 countries.

Saverglass is recognised as the preferred partner for established and emerging brands in premium spirits and wine, with leading design and R&D capabilities providing the ability to create bespoke, exclusive and personalised products with more than 140 new customer models created each year. 

The acquisition will provide meaningful scale to Orora’s existing operations, extending its operating footprint and product capabilities in attractive offshore markets and enhancing its financial performance and growth prospects.

From a commercial, product and geographic perspective the combination of Saverglass and Orora is expected to unlock significant value creation opportunities for the combined group. 

Moreover, near-term synergies of A$15 million are expected from network optimisation, cost rationalisation and operational efficiencies. 

The acquisition will provide attractive value creation for existing shareholders of Orora and is expected to be mid-single digit EPS accretive (including full run-rate synergies) in the first full financial year of ownership. 

The acquisition is subject to various conditions precedent customary for a transaction of this nature, including obtaining all necessary regulatory approvals. Subject to the satisfaction of all conditions precedent, completion of the acquisition is expected to occur in the last quarter of CY2023.

Orora CEO Brian Lowe said, “We are extremely pleased to welcome Saverglass into the Orora Group. This strategic acquisition further strengthens our existing glass business, establishing Orora as a global player of scale in attractive premium segments. 

“I look forward to working with the Saverglass team, led by CEO Jean-Marc Arrambourg as we embark on this journey together.”

Saverglass CEO Jean-Marc Arrambourg added, “We are extremely excited to join Orora as we look to consolidate and accelerate Saverglass’ strong momentum. 

“We see Orora as a natural owner of Saverglass, given the high complementarity of the two businesses and significant benefits to be realised from the combined global network and capabilities.” 

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