Ardagh Glass to double in size following takeover

Irish owned Ardagh Glass is to double in size with the acquisition of the world“s second biggest can maker – Impress Cooperative – with annual revenues of EUR 1.8 billion operating 57 factories in 22…

Irish owned Ardagh Glass is to double in size with the acquisition of the world“s second biggest can maker – Impress Cooperative – with annual revenues of EUR 1.8 billion operating 57 factories in 22 countries. Ardagh has bought Impress for EUR 1.7 billion from a private equity firm. The enlarged business will trade as Ardagh Packaging Group and will have an annual turnover of EUR 3 billion. Ardagh has a EUR 1.2 turnover from its 24 factories in seven countries. The new company will employ 14,000 people and will take Ardagh into the North American and Australasian markets. Impress, founded in 1997 through a merger of French and German interests, is based in the Netherlands. The company expanded in 2000 when it bought the can making business of food giant Heinz. Its customers include household names such as John West, Del Monte and Crown Paints. Niall Wall, Ardagh“s chief executive officer, said: The newly enlarged group will operate 81 facilities with leading market positions across 24 countries. He added: The new business will have considerable scale with sales in excess of EUR 3 billion and employing 14,000 people.