THE WHAT? Silgan Holdings has announced that it has acquired Unicep packaging for US$237 million.
THE DETAILS The purchase was funded with revolving loan borrowings under its senior secured credit facility and is expected to be slightly accretive to the company’s earnings in 2021.
Unicep operates two manufacturing facilities in the US and is expected to generate approximately US$45 million in sales for 2021.
THE WHY? Adam Greenlee, Silgan Holdings President and CEO, explains, “This acquisition further expands and extends our precision dosing capabilities and comprehensive product offering into new and existing markets. The Unicep team has combined a high-touch commercial philosophy with a proprietary operating platform to excel at meeting the unique requirements of their customers. The business broadens our exposure to health care and Point-of-Care diagnostics markets, has existing capacity for continued growth, complements our global Dispensing and Specialty Closures franchise and is scalable across our global footprint. We believe the acquisition of Unicep represents another example of our disciplined capital allocation model that has allowed Silgan to consistently create long-term shareholder value, and we look forward to welcoming our newest employees to the Silgan team.”