Silgan acquires Nestlé Purina's steel can-making assets
Silgan Holdings Inc., a leading supplier of rigid consumer goods packaging products, announced that it has completed the acquisition of Nestlé Purina PetCare Co.’s steel can-making assets for its pet food products. In connection with the acquisition, it has entered into a long-term supply agreement with Nestlé Purina PetCare Co.
“We are very excited to expand our partnership with Nestlé, one of our largest customers,” says Tony Allott, President and CEO of Silgan. “This transaction enhances our market leading position in food cans, allowing us to further leverage our broad manufacturing platform to continue to provide competitive advantage to customers such as Nestlé.”
The purchase price for the acquired assets was $25 million. Silgan had already begun to supply Nestlé Purina with cans for qualification purposes earlier this year and, as such, the impact of this transaction has already been included in the Company’s earnings guidance.
Silgan Holdings is a leading supplier of rigid packaging for consumer goods products with annual net sales of approximately $3.1 billion in 2010. Silgan operates 83 manufacturing facilities in North and South America, Europe and Asia. Silgan is a leading supplier of metal containers in North America and Europe, and a leading worldwide supplier of metal, composite and plastic vacuum closures for food and beverage products. In addition, Silgan is a leading supplier of plastic containers for personal care products in North America.