M&A Deal Summary

Ardagh Group SA Acquires Consol Glass

On November 26, 2021, Ardagh Group SA acquired packaging company Consol Glass from Brait and Old Mutual Private Equity for 10.1B ZAR

Acquisition Highlights
  • This is Ardagh Group SA’s 4th transaction in the Packaging sector.
  • This is Ardagh Group SA’s 3rd largest (disclosed) transaction.
  • This is Ardagh Group SA’s 1st transaction in South Africa.

M&A Deal Summary

Date 2021-11-26
Target Consol Glass
Sector Packaging
Buyer(s) Ardagh Group SA
Sellers(s) Brait
Old Mutual Private Equity
Deal Type Add-on Acquisition
Deal Value 10.1B ZAR
Advisor(s) Barclays Investment Bank (Financial)

Target

Consol Glass

Johannesburg, South Africa
Consol Glass is a manufacturer of glass packaging products on the African continent and operates 7 manufacturing sites (4 in SA, 1 in Kenya, 1 in Nigeria, and 1 in Ethiopia) strategically located in close proximity to customers. Consol Glass was founded in 1946 and is based in Johannesburg, South Africa.

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Buyer(S) 1

Buyer

Ardagh Group SA

Luxembourg, Luxembourg

Category Company
Founded 1932
Sector Packaging
Employees18,000
Revenue 4.2B EUR (2013)
DESCRIPTION

Ardagh Group is a Luxembourg-based producer of glass and metal products. It was founded in 1932 as the Irish Glass Bottle Company. In 1999 it expanded by buying Rockware Glass and in 2007 by buying the Rexam Glass Division.


DEAL STATS #
Overall 4 of 4
Sector: Packaging M&A 4 of 4
Type: Add-on Acquisition M&A Deals 4 of 4
Country: South Africa M&A 1 of 1
Year: 2021 M&A 1 of 1
Size (of disclosed) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-15 Trivium Packaging

Amsterdam, Netherlands

Trivium Packaging will serve a diverse range of major multinational, regional and local customers operating in a wide array of end markets, including food, seafood, pet food, nutrition, beauty, and personal care, household care and beverages. Trivium Packaging is based in Amsterdam, Netherlands.

Buy $2.5B

Seller(S) 2

SELLER
DESCRIPTION

Brait is an investment holding company focused on realising growth and value creation from its existing portfolio of sizeable, unlisted businesses operating in the broad consumer sector. Brait’s share are primarily listed on the Luxembourg Stock Exchange, with a secondary listing on the JSE. Brait Private Equity was founded in 1991and is located in San Gwann, Malta.


DEAL STATS #
Overall 16 of 17
Sector: Packaging M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
Country: South Africa M&A 16 of 17
Year: 2021 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-11 Primedia

Sandown, South Africa

Formed in 1994, Primedia (Pty) Ltd. is a South African focused media and advertising group targeting premium consumers on the move. The company has a broad portfolio of broadcasting and out-of-home assets, covering a wide range of advertising opportunities including radio stations and in-mall media.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-24 Premier

Waterfall, South Africa

Premier is a fast-moving consumer goods (FMCG) manufacturer offering branded and private label solutions. Its strong heritage brands include Snowflake (wheat flour), Iwisa No 1, SuperSun and Nyala (maize meal), Blue Ribbon (bread), Lil-lets (feminine hygiene), Manhattan and Super C (sugar confectionery), and the Companhia Industrial da Matola S.A. food portfolio (Top Score, Polana, Florbela and Favorita) in Mozambique. Premier was formed in 1820 and is based in Waterfall, South Africa.

Sell -
SELLER
DESCRIPTION

Old Mutual Private Equity (OMPE) is private equity arm of South African financial services firm Old Mutual. OMPE is both a fund and direct investor and generally targets opportunities throughout the Southern region of Africa. OMPE looks to invest a minimum of R100 million per transaction and typically seeks to hold investments for a period of 5 to 7 years. Types of transactions include take privates, MBOs, LBOs, growth capital financings, and recapitalization. Old Mutual Private Equity was formed in 2004 and is based in Pinelands, South Africa.


DEAL STATS #
Overall 3 of 3
Sector: Packaging M&A 1 of 1
Type: Add-on Acquisition M&A Deals 3 of 3
Country: South Africa M&A 3 of 3
Year: 2021 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-02-13 Savcio Holdings

Bedfordview, South Africa

SAVCIO is the largest privately-owned provider of maintenance and repair services for rotating electrical equipment and transformers in Africa.

Sell -