An affiliate of private investment firm Sun Capital Partners is to sell Allied Glass to Verallia Group, the third largest producer of glass packaging for beverages and food products globally, headquartered in France, for a total enterprise value of £315 million.
An affiliate of private investment firm Sun Capital Partners (Sun Capital) is to sell Allied Glass to Verallia Group (Verallia), the third largest producer of glass packaging for beverages and food products globally, headquartered in France, for a total enterprise value of £315 million.
The sale of Allied mark’s the first Sun Capital Partners’ Fund VII exit. Sun Capital was advised by its European affiliate, Sun European Partners, LLP, in connection with this transaction.
Established in 1874 and headquartered in Leeds, UK, Allied is a UK-based manufacturer of glass packaging containers for the premium spirits, food and drinks markets. It specialises in shorter production runs for bespoke premium bottles which are manufactured to order.
Since an affiliate of Sun Capital acquired Allied in December 2019, value creation was accelerated through product innovation, and increasing recycled content in glass production, bolstering the ESG profile. The company also introduced activity-based, product level costing platforms to enhance commercial and operational decision making and cost savings. Furthermore, a capex program for a new facility increased capacity and manufacturing efficiency. Each of these initiatives expanded the company’s market share and profitability, growing EBITDA significantly.
