Silgan Metal Containers and Closures merges with Trivium Packaging B.V
The all-cash transaction values the company at approximately $3.4 billion and creates a $7.3 billion metal packaging business across North America and Europe.
Trivium Packaging B.V., a global provider of recyclable metal packaging products for food and beverage markets, will combine with Silgan's metal container and food and beverage flat cap closures businesses to form Silgan Metal Containers and Closures. American Industrial Partners is providing a fully-committed cash equity contribution of roughly $1.0 billion and will hold a 40% stake in the new partnership, while Silgan will receive approximately $2.3 billion of cash proceeds and retain 60% controlling ownership.
The remaining capitalization will come from fully-committed debt financing. "Since 2019, Trivium has been a trusted provider of recyclable metal packaging products, serving over 800 customers around the globe.
This transaction with Silgan and AIP marks the next step in our evolution, as we collectively continue to deliver valuable packaging solutions to our customers and millions of consumers around the world," said Michael Mapes, Chief Executive Officer of Trivium.
Get Buyout Desk email updates.
Yesterday's platforms, add-ons, recaps, and exits, cleaned up on the site. Email updates are not on a fixed schedule.