Silgan Holdings, a leading provider of rigid packaging solutions, has announced that it has completed its acquisition of Weener Plastics Holdings B.V., a leading producer of differentiated dispensing solutions for personal care, food and healthcare products. Weener operates a global network of 19 facilities, primarily in Europe and the Americas, with approximately 4,000 employees and proprietary manufacturing technologies, including significant cleanroom capabilities.
The Company financed the purchase price of this acquisition and related costs and expenses through term and revolving loans under its senior secured credit facility, including an incremental term loan of €700 million. Silgan expects to materialize acquisition-related operating cost synergies of approximately €20 million within 18 months. The transaction is expected to be slightly accretive to adjusted earnings per share in 2024, with an increase of approximately 10% once fully integrated and with synergies achieved.
SILGAN’s annual net sales are approximately US$6 billion in 2023. Silgan operates 124 manufacturing facilities in North and South America, Europe and Asia. The company is a leading global supplier of dispensing and specialty closures for fragrance and beauty, food, beverage, personal and health care, home care, and lawn and garden products. The company is also a leading supplier of metal containers in North America and Europe for pet and human food and general line products. In addition, the company is a leading supplier of custom containers for non-perishable food and personal care products in North America.
