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Orora (ASX:ORA) completes saverglass acquisition

Overview of Orora's recent acquisition


Orora Limited (ASX:ORA) has successfully completed the acquisition of 100% of Saverglass SAS, a global leader in the design, manufacturing, customisation, and decoration of high-end bottles for the premium and ultra-premium spirit and wine markets. The acquisition enhances Orora's strategic advantage, scale, diversification, and future growth opportunities.

Executive commentary on the acquisition


Orora CEO Brian Lowe expressed, 'We are extremely pleased to announce the completion of the acquisition of Saverglass. This strategic acquisition further strengthens our existing business, establishing Orora as a global player of scale in attractive premium segments. I am thrilled that Saverglass is now officially part of the Orora Group, and I look forward to working with the Saverglass team, led by CEO Jean-Marc Arrambourg, as we embark on this next exciting chapter in our company journey.'

Summary of Orora's acquisition of Saverglass


Orora Limited (ASX:ORA) has successfully completed the acquisition of Saverglass SAS, a global leader in high-end bottle design and manufacturing. The acquisition enhances Orora's strategic advantage, scale, diversification, and future growth opportunities. The company funded the acquisition through an equity raising and extended Global Syndicated Facility Agreements, with a debt maturity profile of 4.3 years. Orora's CEO, Brian Lowe, expressed excitement about the acquisition, emphasizing its potential to strengthen the company's position in attractive premium segments. The completion of this acquisition marks an important milestone in Orora's journey as it aims to expand its global presence and offerings in the premium and ultra-premium spirit and wine markets.

Sourcehttps://announcements.asx.com.au/asxpdf/20231204/pdf/05y4hm0l6qdwgg.pdf

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