New York – CVC Capital Partners (“CVC”) announced today that funds advised by CVC have agreed to acquire Anchor Glass Container Corporation (“Anchor” or “the Company”), in partnership with BA Glass, a leading European manufacturer of glass containers.
Headquartered in Tampa, Florida, Anchor is one of the leading producers of glass packaging in the United States, focusing on the growing, premium specialty segment of the market. Anchor has long-standing relationships with blue chip companies across the beer, liquor, food, beverage, ready-to-drink and consumer end-markets. The Company operates six manufacturing facilities located in Florida, Georgia, Indiana, Minnesota, New York and Oklahoma, in addition to an engineering and spare parts facility in Illinois and a mold design and manufacturing facility in Ohio. The Company’s 11 furnaces and 31 machines produce almost 5 billion glass containers annually.
Thomas Kichler, Partner and US Head of Industrials and Energy at CVC, said: “Anchor is a high quality business, with a talented leadership team, and we are very excited to partner with Jim Fredlake and his team. Together with our partners at BA Glass, we look forward to supporting Anchor’s growth as it continues to capitalize on market opportunities.”
Carlos Moreira da Silva, Chairman of BA Glass, added: “Anchor is an outstanding industry player, with a strong position in the highly attractive US market. We are very excited to work with management and CVC to further enhance Anchor’s existing successes.”
Jim Fredlake, CEO of Anchor, commented: “We are delighted to be working with CVC and BA Glass going forward. The combination of BA Glass’s manufacturing expertise and CVC’s global network and industry knowledge will be invaluable to us as we enter the next phase of development.”
Morgan Stanley and Citi acted as lead financial advisors to CVC and BA Glass. Credit Suisse, Citigroup Global Markets Inc. and Morgan Stanley provided committed debt financing to CVC and BA Glass. Baker & McKenzie acted as legal counsel to CVC and BA Glass.
CVC Capital Partners
Carsten Huwendiek, Head of Communications
Tel: +44 20 7420 4240
About CVC Capital Partners
CVC Capital Partners is a leading private equity and investment advisory firm. Founded in 1981, CVC today has a network of 23 offices and approximately 340 employees throughout Europe, Asia and the U.S. To date, CVC has secured commitments of more than US$65 billion from some of the world’s leading institutional investors across its European and Asian private equity, strategic opportunities and growth funds. In total, CVC currently manages over US$33 billion of assets. Today, funds managed or advised by CVC are invested in 51 companies worldwide, employing c.330,000 people in numerous countries. Together, these companies have combined annual sales of over US$90 billion. For further information about CVC please visit: www.cvc.com
About BA Glass
Headquartered in Porto (Portugal), BA Glass is a leading European player in the glass packaging industry. In 2015, BA Glass achieved €531m sales and €173m EBITDA. BA Glass currently operates 8 glass manufacturing plants located in Portugal, Spain Poland and Germany, produces 1.6 million tonnes of glass containers and employs 2,400 people. During 2016, BA Glass has acquired Agenda Glass in Germany and is in the process of completing the acquisition of the glass container operations of Yioula in Greece, Romania and Bulgaria. For further information about BA Glass please visit: www.baglass.com
About Anchor Glass Container Corporation
Anchor Glass is a leading North American manufacturer of premium glass packaging products. Anchor Glass has long-standing relationships with blue chip companies across the beer, liquor, food, beverage, ready-to-drink and consumer end-markets. The Company employs approximately 2,000 people and operates six manufacturing facilities located in Florida, Georgia, Indiana, Minnesota, New York and Oklahoma, an engineering and spare parts facility in Illinois and a mold manufacturing facility in Ohio. For more information, please visit www.anchorglass.com