Guala Closures S.p.A. agreed to acquire Astir Vitogiannis Bros Single Member S.A. from S.I.C.C Holding Limited approximately for an Enterprise Value of ?140 million on April 23, 2024. Astir in 2023, it has a Revenue ?75 million, Adjusted EBITDA ?19 million, EBT ?16million and Net Debt ?15 million. Stelios Vitogiannis will continue his role as CEO of Astir, will report to the CEO of Guala Closures and will become indirect shareholder at Guala.

IDEAL exits the crown cork business and significantly increases available Cash for future investments. PricewaterhouseCoopers Business Solutions S.A. (PwC) acted as exclusive Financial Advisor to IDEAL Holdings for the transaction, Reed Smith and Koutalidis Law Firm acted as legal advisors. The acquisition is subject to various standard closing conditions, including applicable regulatory approvals, and is expected to close in H2 2024.