Ardagh/Gores combination completes
Ardagh Metal Packaging and Gores Holdings has announced the completion of its business combination.
The combined company will be named Ardagh Metal Packaging S.A. and will commence trading on the New York Stock Exchange on August 5, 2021 under the new ticker symbol “AMBP”. The Business Combination was approved at a special meeting of Gores Holdings V stockholders on August 3, 2021.
“AMP is ideally-positioned to see continued benefits from the long-term mega trends of sustainability and changing consumer preferences,” said Paul Coulson, Chairman of AMP and Chairman & CEO of Ardagh Group S.A. “AMP has a clear growth roadmap for the future, as we invest in support of our customers’ growth. As a leading, pure play beverage can producer, AMP has scale and excellent ESG attributes and Ardagh Group intends to remain a committed, long-term majority shareholder as AMP continues its growth journey.”
“We are delighted to have completed our combination with Gores Holdings V. Over the past five years, our business has grown its position as one of the world’s leading beverage can producers, through our agility and foresight in tapping into emerging consumer and market trends,” said Oliver Graham, CEO of AMP.
“AMP’s accelerated growth strategy is timely and deepens our connection with our customers and end consumers, as demand for sustainable beverage cans continues to grow. We recently reported very strong second quarter results, and confidently look forward to delivering further growth and performance for all of our stakeholders.”
Alec Gores, Chairman and CEO of The Gores Group and Chairman of Gores Holdings V, said, “AMP has established itself as the pre-eminent pure play beverage can company, and today’s milestone marks the Company’s next stage of growth. As a standalone public company, AMP is well-positioned to strengthen
its market leadership as it capitalises on its significant expansion opportunities amid favourable sustainable
product demand dynamics. We are thrilled to have partnered with Paul, Oliver and AMP’s high-quality
management team and look forward to AMP’s continued success.”
“AMP’s relentless focus on product innovation and meeting customers’ needs have driven its rapid success to-date, uniquely positioning it as one of the industry’s only scaled companies,” said Mark Stone, Senior Managing Director of The Gores Group and CEO of Gores Holdings V. “Consumers around the world continue to become increasingly environmentally-conscious, and AMP’s entry into the public markets will solidify its leadership position as it delivers highly differentiated, 100% sustainable products to a global customer base.”