Germany-based Glassland provides a wide range of high-end glass bottle and closure designs to the alcohol industry and other clients in Germany and Switzerland
TricorBraun, a US-based rigid packaging company, has completed the acquisition of Germany-based glass packaging provider Glassland for an undisclosed amount.
Glassland provides a wide range of high-end glass bottle and closure designs to the alcohol industry and other clients in Germany and Switzerland.
Through the acquisition, TricorBraun’s premium glass packaging division, Vetroelite, expands its base in Germany and increases its overall European reach.
TricorBraun Europe president Declan McCarthy said: “The Glassland team is equally passionate about customer service as they are about design, and as a result, they’ve built a longstanding business with an impressive reputation.
“We welcome Glassland to TricorBraun and look forward to supporting the team’s continued growth.”
Under the terms of the deal, all team members of Glassland will remain with TricorBraun and continue to work from their Bonn site in Germany.
Upon completion of the transition period, the German glass packaging company will fully integrate with Vetroelite.
McCarthy added: “TricorBraun has a successful acquisition track record because we partner with strong companies while providing opportunities for team member and business growth.
“This strategic acquisition provides additional growth avenues for Glassland, Vetroelite, our team members, and supplier partners while providing expanded services and local options for customers.”
Since the company’s foundation, TricorBraun has worked with management teams to successfully acquire and further accelerate the growth of 41 packaging firms worldwide.
Glassland founder and CEO Johannes Huth said: “Joining TricorBraun and Vetroelite is an exciting step in Glassland’s history.
“Working together provides access to global resources and expertise while preserving our dedication to the highest level of customer service.
“We look forward to future growth in the beer, spirits, and wine sectors in Switzerland, as well as serving other packaging segments – in addition to glass – with TricorBraun’s support.”
Proventis Partners, a member of the Mergers Alliance, served as the financial advisor to the packaging company.