Orora, leading manufacturer and distributor of sustainable, innovative packaging and visual solutions, has completed the acquisition of Saverglass, with the premium global glass business now formally part of the Orora Group.
The acquisition marks a significant milestone for both organisations, establishing Orora as a global company of scale in attractive premium beverage segments.
Orora Group’s managing director and CEO Brian Lowe said: “We are extremely pleased to announce the completion of the acquisition of Saverglass. This further strengthens our existing business, and I look forward to working with the Saverglass team, led by CEO Jean-Marc Arrambourg, as we embark on this journey together.”
Saverglass president Jean-Marc Arrambourg said: “We at Saverglass are excited about this next chapter with the Orora Group. We are confident that Orora is the perfect partner for Saverglass to continue our development and leadership in the manufacture and decoration of high-end glass bottles for the wine and spirits market. We look forward to working together to further accelerate our growth trajectory.”
The enterprise value of the acquisition is Aus $2,156m which was funded by an equity raising of approximately Aus $1,345 million and debt facilities.
Listed on the ASX and headquartered in Melbourne, Australia, Orora is focused on designing and delivering products and services that enables its customers’ brands to thrive.