Vidrala wins bidding war for Quinn Glass
Spanish bottle maker is poised to snap up Encirc in €400m deal
THE Spanish bottle manufacturer Vidrala is to buy the former Quinn Glass operations in Ireland and the UK, in a deal worth up to €400m.
Vidrala, which is valued at almost €1bn on the Spanish stock exchange, has emerged as the preferred bidder for the business following a three-month sale process. The deal is likely to be completed this week.
The former Quinn business, rebranded last year as Encirc, employs about 1,100 people at Derrylin in Fermanagh and Elton in Cheshire. It has valuable contracts with drinks groups Diageo and Britvic.
Vidrala has operations in Spain, Portugal, France, Belgium and Italy, mainly obtained through acquisitions over the past decade. In the nine months to the end of September 2014, sales were €363m and it made an operating profit of more than €54m, latest
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