French container glass manufacturer Saverglass has been acquired by the Carlyle Investment Fund for €560 million ($630.5 million).
Saverglass designs, manufactures and decorations glass bottles and carafes for premium spirits such as cognacs, whiskies and vodkas, as well as premium and vintage Champagnes and wines.
In the 30 years since it was formed it has had average year-on-year growth of 10%, and built seven industrial facilities – four glassmaking plants and three decoration facilities.
In 2013 it launched a new plant in UAE, bringing annual production levels to 700 million bottles. In 2014 the company also opened a decoration plant in Arques, in the north of France.
“The group is in a dynamic market with a positive growth outlook. Its production tool has quickly reached a saturation point, justifying the group’s continued industrial development abroad.
“The world’s number three investment fund, Carlyle now accompanies, as the key partner of the management team, the necessary implementation of the ongoing group’s international development,” it said in a statement.
The company thanked each of its employees with a profit-sharing payment of €1500.