Vidrala S A : completes acquisition of 100% stake in Vidroporto
December 04, 2023 at 05:44 pm
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Vidrala acquires the entire share capital of the Brazilian company Vidroporto S.A. for a total of 384 million euros at the current exchange rate.
The transaction is part of the investment plan announced by Vidrala, which aims to gradually grow in the Latin American market.
In February 2023 Vidrala announced the purchase of 29.36% of the Brazilian company for 53 million euros.
Vidrala has announced the acquisition of the entire share capital of Vidroporto S.A. ("Vidroporto") for €384 million at current exchange rates. This figure includes the minority stake acquired at the beginning of the year, the remaining majority stake acquired now and the debt assumed in the Brazilian company.
With this transaction Vidrala continues its internationalisation process and expects it to contribute positively to the group's consolidated profits and cash generation from the start of its integration. The acquisition of Vidroporto represents an important step for Vidrala's long-term strategy, as it boosts the diversification of the business towards the growing Brazilian market and represents a base for potential future development in regions that will offer interesting opportunities and will strengthen long-term alliances with strategic customers.
According to Gorka Schmitt, CEO of Vidrala, "We continuously analyse and assess the different opportunities that arise in the various markets. This strategic move lays the foundations for establishing a platform for the future, in regions that show promising potential for the growth of our people and our project".
Vidroporto, with its subsidiary Indústria Vidreira do Nordeste, is a competitive Brazilian producer of glass containers, founded on an excellent industrial heritage. It has an experienced management team and strong business relationships with strategic customers. It also operates two high-tech plants located in Porto Ferreira, São Paulo state, southeast region, and Estância, Sergipe state, northeast region, from where it supplies containers to some of Brazil's leading brands in segments such as beer, spirits and soft drinks.
In the full year 2023, Vidroporto expects sales of approximately R$850 million and EBITDA of approximately R$300 million. It is worth noting that the Porto Ferreira plant has received a significant expansionary investment this year, which is fully disbursed through local debt amounting to approximately R$ 900 million at the date of the closing of the transaction. The new facility, which has increased Vidroporto's total production capacity by 35%, started operations at the beginning of the second half of this year and is expected to have an impact on results in 2024.
Vidrala SA published this content on 04 December 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 December 2023 17:43:18 UTC.
Vidrala SA is a Spain-based company principally engaged in the glass industry. The Company operates through two segments: Spain and European Union. The Companyâs activities include the production, distribution and sale of glass bottles and containers used in the food and beverages industries. The Company conducts its own research and development (R&D) operations. It operates production plants and melting furnaces located in such countries, as Portugal, France, Belgium and Italy. The Company owns such subsidiaries as Crisnova Vidrio SA, Inverbeira Sociedad de Promocion de Empresas SA, Gallo Vidro SA, Castellar Vidrio SA, Corsico Vetro SRL, MD Verre SA, Omega Immobiliere et Financiere SA, Investverre SA and CD Verre SA.
VIDRALA, S.A. 
