Verallia plans to acquire the Italian business of the Spanish Vidrala Group

A letter of intent to this effect has already been signed with the company based in Laudio in the Basque Country, Verallia announced at the end of February. The enterprise value of the transaction amounts to €230 million and will be financed by debt, according to the statement.

According to the Vidrala Group, the sale of the Italian plant will allow it to concentrate on other strategic regions in future. Verallia has long been represented on the Italian market and the takeover of the business unit will enable it to expand its own product range, it said. Verallia already operates six production sites in Italy, and the Vidrala plant in Corsico would be the seventh.