Silgan Holdings Inc. acquired Easytech Closures S.p.A. for ?31.5 million.
October 03, 2021
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Silgan Holdings Inc. (Nasdaq:SLGN) acquired Easytech Closures S.p.A. for ?31.5 million on October 1, 2021. The purchase price was ?31.5 million, subject to customary adjustments including for net debt and working capital. Silgan funded the purchase price for this acquisition with revolving loan borrowings under its senior secured credit facility. With this acquisition, Silgan expects to realize annual synergies of approximately ?4.1 million, within 12 months primarily through procurement savings and increased capacity utilization. This acquisition is expected to be slightly accretive to Silgan?s earnings in 2021, excluding the impact of required purchase accounting adjustments, with additional accretion expected in 2022. Aurelio Giovannelli of Studio Professionale Associato a Baker & McKenzie acted as legal advisor to Easytech Closures Spa. Giulia Bramanti, Marcello Floris, Guido Galeotti, Massimo Maioletti and Marco Melisse of Eversheds Sutherland Associazione Professionale acted as legal advisors to Silgan Holdings Inc.
Silgan Holdings Inc. (Nasdaq:SLGN) completed the acquisition of Easytech Closures S.p.A. on October 1, 2021.
Silgan Holdings Inc. is a manufacturer of sustainable rigid packaging solutions for essential consumer goods products. The Companyâs segments include dispensing and specialty closures, metal containers and custom containers. The dispensing and specialty closures segment manufactures and sells dispensing systems and specialty closures for fragrance and beauty, food, beverage, personal and health care, home care and lawn and garden products. The metal containers segment is engaged in the manufacture and sale of steel and aluminum containers for pet and human food and general line products. The custom containers segment manufactures and sells custom designed plastic containers for pet and human food, consumer health and pharmaceutical, personal care, home care, lawn and garden and automotive products. Its products are used for a variety of end markets, and it operates over 107 manufacturing plants in North America, Europe, Asia and South America.
SILGAN HOLDINGS INC. 
