Silgan acquires Easytech Closures
Silgan Holdings has acquired Easytech Closures S.p.A. This business manufactures and sells easy-open and sanitary metal ends used with metal containers primarily for food applications in Europe.
It operates a manufacturing facility in Fisciano, Italy and is projected to generate approximately €38 million, or approximately $45 million, in sales and approximately €6.6 million, or approximately $7.8 million, in adjusted EBITDA in 2021.
“Easytech is a leading manufacturer of a broad portfolio of metal ends, including easy-open metal ends, in the European market. We have had an excellent long-standing business relationship with Easytech and have great respect for its owners and management team. We are excited to now welcome Easytech to the Silgan team,” said Adam Greenlee, President and CEO.
“This acquisition will allow our combined businesses to more effectively and efficiently utilise existing capacity for metal ends, reduce capital investment in the near term and accelerate completion of an on-going cost reduction programme.
“Our acquisition of Easytech is yet another example of our strategy to build shareholder value through a disciplined capital allocation model. We now look forward to the successful integration of our three recent acquisitions,” concluded Mr. Greenlee.
The purchase price for this acquisition was $36.5 million.
Elsewhere, the company has also announced the acquisition of Unicep Packaging, a packaging provider for consumer and professional products.