Verallia Set to Bolster Italian Operations through €230 Million Purchase of Vidrala’s Glassmaking Facility
In a strategic move to strengthen its foothold in the Italian market, Verallia is poised to acquire Vidrala’s glass business in a landmark deal valued at €230 million. Vidrala’s Italian subsidiary, located in Corsico near Milan, operates from a singular production site featuring two furnaces. With this acquisition, Verallia is set to enhance its capabilities in Italy, already boasting six production sites in addition to the newly integrated Corsico facility. The enterprise value of €230 million for this transaction will be financed through external debt, reflecting Verallia’s commitment to targeted acquisitions as part of its profitable growth strategy.
Verallia CEO Patrice Lucas emphasized the alignment of this transaction with the company’s strategic plan, emphasizing the pursuit of profitable growth and improved commercial and industrial presence in Italy. Marco Ravasi, Managing Director of Verallia Italy, expressed enthusiasm about the opportunity, stating, “Serving our customers is a priority, which is why I am delighted with this opportunity to continue the development of our activities in the Italian market and to integrate the Corsico production site, which complements our footprint in Italy.”
This acquisition marks a significant milestone for Verallia as it positions itself for further expansion and consolidation in key geographical markets.
Source: GlassBalkan
