Silgan Holdings Inc., a packaging company based in Stamford, has agreed to acquire a Dutch company with 19 facilities in Europe and the Americas, for about $909.75 million.
Silgan has entered into a purchase and sale agreement with Weener Plastics Holdings, a private company headquartered in the Netherlands, which manufactures dispensers for personal care, food and healthcare products, according to an announcement Wednesday morning.
Weener, which has about 4,000 employees, generated sales of $488.43 million last year, the announcement states.
“The combination of Weener’s innovative product offering, advanced manufacturing technologies and efficient operating footprint, strong customer relationships and presence in growing consumer markets, including personal and health care, complements our existing dispensing business well,” said Adam Greenlee, president and CEO of Silgan.
Silgan said it expects to realize operational cost savings of roughly $21.7 million within 18 months after closing on the transaction. The deal is set to close in the fourth quarter of 2024.
As part of the sale, Silgan will acquire Weener’s proprietary manufacturing technologies, including significant clean room capabilities.
Silgan, a publicly traded company, is a leading supplier of sustainable rigid packaging solutions for consumer goods. It has about 15,000 employees around the world and operates 105 manufacturing facilities in North and South America, Europe and Asia.
According to its annual report, Silgan generated $6 billion in net sales in 2023.
National law firm Jenner & Block represented Silgan on the transaction.
The cross-office Jenner team advising Silgan was led by partners Robert Rawn and Jeremy Casper and also included partners Geoff Davis, Steve Englund, Brian Hart, Sheila Kailus, Jan Larson, Matt Renaud and Stephanie Sebor, along with associates Joshua Davids, Maliha Ikram, Miguel Suarez Medina, Daniel Robertson, and Alex Ryshina, and summer associate Jane Mezzino.
Linklaters LLP is serving as co-counsel.
