The largest manufacturer and supplier of soda-lime glassware to the US food service industry, and a glassmaker specializing in glass and ceramic kitchenware, Libbey Inc. said on 22 January that it has…
The largest manufacturer and supplier of soda-lime glassware to the US food service industry, and a glassmaker specializing in glass and ceramic kitchenware, Libbey Inc. said on 22 January that it has revised a deal to buy competitor Anchor Hocking, a week after the government said the purchase would create a monopoly in the glassware industry. Toledo-based Libbey and Newell Rubbermaid Inc., the parent company of Anchor Hocking, said they were excluding Anchor Hocking“s food service business, which generated about US$ 17 million in sales in 2001, from the deal. They said the deal was now worth US$ 277.5 million. Libbey announced in June 2001 it would buy Anchor Hocking for US$ 332 million. In mid-January, the Federal Trade Commission filed a complaint to stop the deal. Libbey commands half the nation“s glass tableware market, the federal complaint said. Anchor Hocking, based in Lancaster, Ohio, is the third-largest US manufacturer.