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Anchor Glass seeks buyer

Anchor Glass Container Corp., controlled by Wayzata Investment Partners, a spin-off of Cargill Inc., the company that bought the company in 2006, is for sale again and may get as much as USD 1 billion…

Anchor Glass Container Corp., controlled by Wayzata Investment Partners, a spin-off of Cargill Inc., the company that bought the company in 2006, is for sale again and may get as much as USD 1 billion, according to people with knowledge of the matter. The bottle maker, which has already been through three bankruptcies since 1996, may get more interest from private-equity funds than from competitors, it is said. The company“s annual earnings before interest, taxes, depreciation and amortization are about USD 150 million and it could sell for six or seven times that amount. Anchor, which was set up in 1983 after the acquisition of the glass container division of Anchor Hocking Co. by Wesray Corp., has had had six owners and two initial public offerings in the past 30 years.

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