Silgan Holdings Inc. (Nasdaq:SLGN), a leading supplier of rigid packaging for consumer goods products, announced today that it has completed its acquisition of the dispensing systems business of WestRock Company (NYSE:WRK). This business is a leading global supplier of highly engineered triggers, pumps, sprayers and dispensing closure solutions to major branded consumer goods product companies in the home, health and beauty markets. It operates a global network of 13 plants across North America, Europe, South America and Asia. This business generated sales of approximately $570 million in 2016.
The purchase price for this acquisition was $1.025 billion, subject to adjustments outlined in the purchase agreement for this acquisition. The Company funded the purchase price for this acquisition through term and revolving loan borrowings under its senior secured credit facility, including a $800 million delayed draw term loan.
This acquisition is expected to be accretive to the Company’s earnings, excluding the impact of the required purchase accounting adjustments. With this acquisition, Silgan expects to realize operational cost synergies of $15 million within 24 months, primarily through reductions in general and administrative expenses, procurement savings and manufacturing efficiencies. As a result, this acquisition will become more accretive as synergies are phased in over the next 24 months. Silgan will update its earnings guidance for the full year 2017 for this acquisition and its recent debt financing transactions when it announces its earnings results for the first quarter of 2017 on April 26, 2017.
Silgan is a leading supplier of rigid packaging for consumer goods products with annual net sales of approximately $3.6 billion in 2016. Silgan operates 100 manufacturing facilities in North and South America,Europe and Asia. The Company is a leading supplier of metal containers in North America and Europe for food and general line products. The Company is also a leading worldwide supplier of metal and plastic closures and dispensing systems for food, beverage, health care, garden, home and beauty products. In addition, the Company is a leading supplier of plastic containers for shelf-stable food and personal care products in North America.
Statements included in this press release which are not historical facts are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934, as amended. Such forward-looking statements are made based upon management’s expectations and beliefs concerning future events impacting the Company and therefore involve a number of uncertainties and risks, including, but not limited to, those described in the Company’s Annual Report on Form 10-K for 2016 and other filings with the Securities and Exchange Commission. Therefore, the actual results of operations or financial condition of the Company could differ materially from those expressed or implied in such forward-looking statements.
Silgan Dispensing launches recyclable trigger sprayer to bring enhanced sustainability to market
Silgan Dispensing, a global leader in the design, development and distribution of highly engineered pumps and sprayers in the home, health and beauty markets, today announces the launch of SP05TM R trigger sprayer, its latest product made with LifeCycleTM Technology.
Interview on the intersection of innovation and sustainability
Innovation and sustainability are arguably two of the biggest trends in business today. As prevalent as they are, what they mean can vary greatly. For Silgan Dispensing, innovation and sustainability are used to inform all aspects of the company – from products, to people and operations.
Silgan Dispensing expands number of ISCC PLUS certified manufacturing facilities
Two of Silgan Dispensing's plants in France, Le Tréport and Lacrost, have attained ISCC PLUS Certification. Last fall, its plants in Thomaston and Watertown Connecticut also achieved ISCC PLUS Certification. With the certification, Silgan Dispensing is able to trace the amount of renewable materials used throughout its manufacturing process.
Silgan Dispensing awarded EcoVadis’ Gold sustainability rating
Silgan Dispensing, a global leader in the design and manufacture of highly engineered pumps and sprayers for the beauty, fragrance, personal care, home, and healthcare markets, has received EcoVadis’ Gold sustainability rating for environmental and corporate social responsibility (CSR) performance.
Silgan acquires Unicep Packaging
Silgan, a leading supplier of sustainable rigid packaging solutions for consumer goods products, announced today that it has acquired Unicep Packaging. As a Specialty Contract Manufacturer and Developer solutions provider, this business develops, formulates, manufactures and sells precision dosing dispensing packaging solutions
Silgan Dispensing launches Pearl 2, the next generation airless System, at Luxe Pack Monaco 2021
Silgan Dispensing, a global leader in design and manufacture of highly engineered pumps and sprayers in the beauty, fragrance, personal care, home, and healthcare markets, is premiering Pearl 2, the next generation of its airless systems. This new generation also offers materials designed for recyclability, a robust e-commerce design, and broader technical capabilities.
Two Silgan Dispensing manufacturing sites receive ISCC PLUS certification
Silgan Dispensing announces that two of its plants in Connecticut, Thomaston and Watertown, have attained ISCC PLUS Certification, the industry’s leading certification for the Mass Balance protocol, which enables tracking of recycled or bio-based material in the production of resin.
Why standardization is key to driving sustainability across the packaging industry
Silgan Dispensing is a member of Cetie, and several members of our team are involved with its various working groups, including one that focuses on screw necks or glass bottles: the Flaconnage Geometry Group. We recently talked with Juan Albi, project team leader for Silgan Dispensing’s beauty and personal care, and Sandy Gregory, director of fragrance marketing, to share about our company’s relationship with Cetie and how new standards are driving sustainability across the industry.
Dispensers that perform flawlessly, differentiate on shelf and reduce impact on the environment
At Silgan Dispensing, we leverage our expertise to create dispensing solutions that make a difference for our customers, and theirs. With consumers more environmentally conscious than ever before, making a difference means creating dispensers that not only perform flawlessly and differentiate on the shelf, but also reduce impact on the environment.
Silgan Dispensing launches new premium, noiseless sprayer – Sinfonia Elegance
Silgan Dispensing announces the launch of its newest spray, Sinfonia Elegance. Sinfonia Elegance provides the same versatility as Silgan Dispensing’s Sinfonia Spray in a new noiseless version and a softer force-to-actuate, making it an ideal solution for brands that do not want to compromise on consumer experience.
Dior's Sauvage with Silgan dispensing pump is now refillable
The fragrance industry just got a little more sustainable. Best-selling mens fragrance Christian Dior’s Sauvage is now refillable. Dior needed a fragrance pump that would last for years so they trusted Silgan Dispensing to supply one that will continue working, refill after refill.
Silgan Dispensing Melodie Pump selected for Jimmy Choo Fragrance
Silgan Dispending is honored to have worked with Interparfums to create a highly customized actuator on our Melodie pump for the newest Jimmy Choo fragrance for women: I Want Choo. This rose colored pefume looks elegant in it's luxurious bottle.
How has the pandemic impacted consumers' use and relationship with fragrances?
The impact scent can have on a mood and overall sense of wellbeing is nearly impossible to overstate. One fragrance can elicit feelings of coziness and comfort, while another can give a person a sense of luxury and distinction. Given the seemingly endless variations of fragrances and personal uses, it’s no surprise the fragrance market has seen such steady profitability in recent years – at least, prior to COVID-19.
Silgan Dispensing’s first foam solution featured in Bondi Sands’ newly launched self-tanning line, Pure
Silgan Dispensing has partnered with Bondi Sands on its newly launched self-tanning range, Pure. Bondi Sands’ ‘Pure Self Tan Foaming Water’ utilizes Silgan Dispensing’s EZ’R foamer, which features a first-to-market foam application that is 100% recyclable in polypropylene (PP) streams and made entirely from plastic components.
Silgan Dispensing’s Mini NEA line provides beauty brands with high-demand airless and atmospheric sample solutions
Silgan Dispensing is launching its Mini NEA line, available in airless and atmospheric versions, offering convenient and compact solutions for uses such as holiday samples, gift sets, travel sets and in-store testers. Based on the trusted, next-generation NEA platform, this pack provides an excellent evacuation rate and ultra-smooth actuation.
A look at consumer shift in attitude toward conscious beauty
As is the case with any trend, consumers’ interest in natural products has shifted in several key ways that brands in this space must recognize. “Natural” alone doesn’t carry the weight it used to, and in some cases, can be more a liability than a differentiator. Fortunately, there are several strategies brands can employ to deliver products aligned with their customers’ need.
Silgan Dispensing’s acquisition of Albéa Dispensing expands the foundation for our growth strategy
Kevin Clark, President of Silgan Dispensing Systems explains how Silgan's recent acquisition of Albéa's global dispensing business is a transformative step forward on the company's mission to be the preferred partner to its customers.
Silgan acquires Albéa’s Dispensing Systems, Metal and Brazil businesses
With the acquisition of Albéa’s Global Dispensing Systems business, which includes its Metal (Covit Europe & US) and Brazil industrial clusters, Silgan Dispensing expands its range of lotion and fragrance pumps for the beauty, cosmetic, and fragrance markets, while also adding a market-leading portfolio of foaming and fragrance and beauty sampler/mini product solutions. Silgan also gains the experienced team of Albea employees previously focused on those product lines.
e-Commerce: The new rules of packaging and dispensing design
What effect though has the rise in e-commerce had on product development – specifically packaging and dispensing design? The e-commerce model poses several important considerations for brands from a product design perspective. Damaged product, specifically its packaging, is a common reason people return online orders. Designing products that both are appealing online and durable enough to arrive intact is key.
Silgan Dispensing adds to noteworthy home and garden portfolio with latest solution, BOS Enhanced
Silgan Dispensing, a global leader in the design, development and distribution of highly engineered pumps and sprayers in the home, health and beauty markets, launches its newest solution, BOS Enhanced, a sustained duration sprayer with an improved performance and updated design aesthetics for applications in lawn, garden and beyond.
Silgan Dispensing highlights solutions to deliver a better healthcare dispensing experience
Silgan Dispensing, a global leader in the design, development, and distribution of highly engineered pumps and sprayers in the healthcare, home and personal care markets, will share insights and solutions aimed at delivering a better dispensing experience for patients and caregivers, highlighting solutions in ophthalmic, nasal, topical, wound and animal care.
Silgan to acquire Albea’s dispensing business for $900 million
Silgan a leading supplier of rigid packaging for consumer goods products, has announced that it has signed a binding offer to acquire Albea’s dispensing business for $900 million. The proposed acquisition will further broaden the closures franchise.
- Frank Robledano Espín
- Company News
- Created 07 Apr 2017
- Modified 07 Apr 2017
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