Silgan Holdings, a leading supplier of sustainable rigid packaging solutions for the world's essential consumer goods products, has completed its acquisition of Weener Plastics Holdings.
Weener operates a global network of 19 facilities predominantly in Europe and the Americas, with approximately 4,000 employees and proprietary manufacturing technologies including significant clean room capabilities.
Silgan funded the purchase price for this acquisition and related costs and expenses through term and revolving loan borrowings under its senior secured credit facility, including a €700 million incremental term loan.
Silgan expects to realise operational cost synergies related to the acquisition of approximately €20 million within 18 months.
The transaction is expected to be slightly accretive to adjusted earnings per share in 2024, with approximately 10% accretion once fully integrated and with synergies achieved.
Silgan completes Weener Plastics acquisition
