Global packaging manufacturer Ardagh Group has agreed to acquire metal beverage can manufacturing assets in Europe, Brazil and the US from fellow manufacturing giants Ball Corporation and Rexam for $3.42bn (£2.36bn). Ardagh is one of the UK’s, and world’s, largest glass and metal packaging producers. The deal with its fellow consumer packaging companies will see Ardagh acquire 10 manufacturing and two end plants in Europe; seven manufacturing plants and one end plant in the US; two manufacturing plants in Brazil, and a number of support functions in the UK, Germany, Switzerland and the US. The assets acquired by Ardagh had sales of $3.5bn in 2015, and standalone earnings before interest, tax, depreciation and amortisation (EBITDA) of approximately $400m. The acquisition will make Ardagh the third biggest global beverage manufacturer, the second biggest in Europe and the third biggest in the US and Brazil.
