Trivium Packaging serves customers in the food, seafood, pet food, nutrition, beauty and personal care, household care and premium beverage segments
Image: Ardagh has merged food and specialty packaging unit with Exal to form Trivium Packaging. Photo: courtesy of Adam Radosavljevic from Pixabay.
Ardagh Group has completed the merger of its Food & Specialty Metal Packaging business with aluminium containers producer Exal to create new entity called Trivium Packaging.
Under the deal signed in July this year, Ardagh will own a 43% stake in Trivium and secured $2.5bn in cash proceeds, subject to customary completion adjustments.
With around 7,800 employees, Trivium operates 57 production facilities, mainly across the Americas and Europe.
Trivium Packaging manufactures an extensive and sustainable product range
Based in the Netherlands, Trivium manufactures an extensive and sustainable product range to serve a diverse range of multinational, regional and local customers.
The company will provide products and services to the customers in the markets, including food, seafood, pet food, nutrition, beauty and personal care, household care and premium beverages.
With a presence in Europe and North America, Ardagh’s Food & Specialty unit recorded revenue and Adjusted EBITDA of $2.4bn and $355m as of 31 March this year.
Ardagh will use the proceeds from the deal to repay outstanding drawings under its current asset-backed loan facility. It is also planning to use the proceeds to close derivative positions between $5m and $10m in out-of-the-money swaps.
In August this year, Exal also divested its Argentinian filling business, Exal Packaging, to Argentine manufacturer and supplier of personal and home care products Queruclor Group.
The sale is a part of the firm’s efforts to focus on resources on its existing can making facilities in North and South America.
In August this year, Ardagh Group has opened a new can ends manufacturing facility in Manaus, Brazil. Featuring production and inspection equipment, the new facility has the capacity to produce 12 million ends per day.
Ardagh Group supplies recyclable, metal and glass packaging for the major brands across the world. With more than 16,000 employees, the company has 50 metal and glass production facilities in 12 countries across three continents.