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.
WestRock named to Fortune’s world’s most admired company list
WestRock Company announced today that it has once again been named to Fortune Magazine’s annual list of the “World’s Most Admired Companies". The survey measures nine attributes considered critical to a company’s global success, including quality of management, social responsibility, people management and global competitiveness, among others.
Definitive agreement reached for WestRock to acquire Multi Packaging Solutions for $18.00 per share
WestRock Company and Multi Packaging Solutions International Limited announced today that a definitive agreement has been reached for WestRock to acquire all of the outstanding shares of MPS for $18.00 per share in cash and the assumption of an estimated $873 million in net debt, for a total enterprise value of $2.28 billion.
WestRock demonstrates how global consumer insights can help define luxury skincare packaging
Global packaging company will present the findings of its latest consumer facial skincare research at the PCD Congress in Paris in January. WestRock Company, a global leader in paper and packaging solutions, will be presenting at the leading cosmetic and perfume packaging event, PCD, the findings from its latest research into key drivers that shape today’s consumer experience of prestige facial skincare pumps.
WestRock and Grupo Gondi complete joint venture
It has been announced that WestRock and Grupo Gondi have completed the formation of a joint venture combining their paper and packaging operations in Mexico. The combination was recently approved by Mexico’s Antitrust Authority, the Comisión Federal de Competencia Económica (COFECE), and the companies will begin operating in Mexico as a single entity immediately.
WestRock's Sandy Gregory discusses Melodie Mystery and its appeal in the prestige fragrance market: "Perfection is in the details"
Melodie Mystery is WestRock's latest addition to the Melodie line, designed to offer perfect dispensing as well as an attractive silhouette. Speaking with Sandy Gregory, WestRock's Associate Marketing Director for Global Fragrance & EU Beauty, we learned just how far the company goes to ensure brands can offer their consumers the perfect product usage experience.
Anne Echard at WestRock tells us about the role the Melodie Touch sprayer is playing in revolutionizing the prestige fragrance dispenser market
WestRock (the company resulting from the merger between MWV and RockTenn) released a number of dispensers , a carefully selected set of dispensers as "The Emotions of Spray Collection" based on market research that suggested product interaction can enhance a consumer’s emotional connection and drive brand loyalty. Anne Echard, WestRock's Global Product Line Manager for the Fragrance market, tells us a bit about the Melodie Touch dispenser and it's role in the fragrance application ritual.
Media fact sheet: What’s new with WestRock at Luxe Pack Monaco 2015
WestRock’s Creative Studio for Fragrance and Pearl Deco Collection showcase a sampling of what is possible, pairing all the right aesthetic elements in an easy, efficient way to unlock unlimited creativity. Visit the WestRock booth at Booth RD09 to explore how you can create a customized experience for the different personalities of your brands.
WestRock offers additional customization with launch of Creative Studio for Fragrance
WestRock Company, a global leader in paper and packaging solutions, today announced an expanded suite of fragrance decoration and customization options. The new Creative Studio for Fragrance represents a sampling of dispensing solutions for fragrance – pairing decorative overtubes, WestRock’s NoC® invisible dip tube, and customized collars and actuators with new capabilities in extensions for spray caps – to create the ultimate aesthetic in an efficient, optimized way.
MWV's essential skincare and cosmetics line
MWV's skincare portfolio — Aria, Sonnet, Prelude and Sonata — is an essential part of any brand's skincare line. Each dispenser has been specifically designed to enhance the performance of high-viscosity, oxygen sensitive cosmetic and personal care products. The skincare pumps are designed to ensure consistently smooth product delivery every time while the stroke length is designed to allow for a low force-to-actuate, for an enhanced feeling of comfort and control.
MWV enhances the skincare experience with Amplify™
MeadWestvaco Corporation, a global leader in packaging and packaging solutions, has introduced the latest addition to its skincare dispensing portfolio: Amplify™. The solution represents MWV's leadership in creating dispensing solutions that enhance the consumer experience in the beauty and personal care industry.
MWV's Melodie Clikit featured on O Boticario's Malbec Supremo
Over the last decade, O Boticario's Malbec fragrance line has become an iconic symbol of power, masculinity and luxury. Malbec Supremo, the latest addition to the line-up, continues this trend. Using Melodie® Clikit®, Malbec Supremo delivers a rich, voluminous spray and a clean look that seamlessly matches the dynamic characteristics of the fragrance.
MWV's new Aerosense aerosol sprayer is stand out
MWV's newest aerosol sprayer, Aerosense™, offers brand differentiation through its unique shelf presence and ergonomic spray experience. Specifically designed for products such as sun care, body spray and hair sprays, Aerosense is a trigger-actuated sprayer that enables effortless actuation with a continuous, even spray pattern.
MWV enhances the Orchestra fragrance pump
In line with trends to enhance the sensorial experience of packaging and dispensing solutions, MWV's Orchestra® fragrance pump has recently been redesigned with several improvements. The newly enhanced spray pattern generates finer particles leading to a smoother and more elegant spray.
MWV's Little Black Dress of packaging
MWV's skincare and cosmetics line allows brands to create a family look with a high quality line of pumps that are simple and versatile. Think of them as the Little Black Dress of packaging – able to be dressed up or down and fit with any occasion, they become a staple for any cosmetics and skincare line.
MWV transforms the chilled ready meal experience with SmartFare
MeadWestvaco Corporation, a global leader in packaging and packaging solutions, has this week announced the launch of SmartFare™, a new package for chilled ready meals. SmartFare transforms the flimsy CRM tray into a premium, brandable experience, offering new product development professionals a way to drive trial, brand loyalty and repeat purchase.
MWV global study uncovers role of packaging in sensorial skincare experience
MeadWestvaco Corporation, a global leader in packaging and packaging solutions, has released findings from its new Skincare Research & Insights Study. The study explores the five-step ritual that grounds consumer facial skincare routines, and shows that product packaging enhances the sensorial experience of each step. MWV initiated the qualitative study to deepen its understanding of the role of packaging in the skincare category across international markets.
Pearl Airless new 200ml container
MWV's most emblematic airless family, Pearl® Airless has been enhanced with a new container size, 200ml. The new container size provides more versatility and flexibility to the Pearl Airless line, making it the ideal pack for products that require a larger container.
MWV’s Barcelona plant celebrates 50 years of excellence
MeadWestvaco Corporation (NYSE: MWV), a global leader in packaging and dispensing solutions, is celebrating the 50th anniversary of its Barcelona manufacturing plant. The facility is MWV’s global Fragrance Center of Excellence for its dedication to research, development and superior production capabilities.
MWV heightens the luxury fragrance experience with its Emotions of Spray Collection
MeadWestvaco Corporation (NYSE: MWV), a global leader in packaging and packaging solutions, has recently introduced its Emotions of Spray Collection by MWV, an expanded line of six fragrance pumps, each with unique spray characteristics.
U.S. Patent and Trademark Office approves patent for MWV 's NoC® dip tube
MeadWestvaco Corp. today confirmed that the U.S. Patent and Trademark Office has approved the company’s patent application for a fragrance dispensing system using MWV’s NoC® dip tube. The NoC is the world’s first dip tube that appears virtually invisible, thanks to the inventive use of light-refracting technology.
MWV partners with L’Oréal on Garnier Nutrisse packaging
MWV has announced an agreement with L’Oréal to produce the packaging for its popular Garnier Nutrisse hair coloration line. MWV will produce packaging for 52 Garnier Nutrisse product variations, surmounting traditional difficulties with regard to product consistency and sustainability.
MWV’s Beauty & Personal Care Customers Receive Top Honors
MeadWestvaco (NYSE: MWV) provides packaging solutions for many of the world’s most admired brands and this year several of its fragrance customers have won prestigious awards highlighting their thoughtful innovation and brand leadership. Leading fragrance brands such as Inter Parfums, Puig and Koto Parfums all use MWV Beauty & Personal Care’s superior pumps and have received recognition from packaging and beauty professionals worldwide.
- Frank Robledano Espín
- Company News
- Created 07 APR 2017
- Modified 07 APR 2017
- Hits 1262