News Briefs Suppliers
Investment fund acquires Saverglass
Napa, Calif.—Global glass supplier Saverglass, which has an office in Napa and is headquartered in France, announced it had been acquired by the Carlyle Investment Fund for 560 million euros. The deal allowed 300 of the company’s employees to acquire a capital share in the company. Each employee investment came with an additional 1,500 euro profit-sharing payment. Saverglass current revenues come to 400 million euros of which 50% are from exports to 80 countries from 17 subsidiaries. The company operates four glassmaking plants (the newest opened in 2013 in the United Arab Emirates) and three decoration plants. Annual production has grown to 700 million bottle, according to the statement announcing the acquisition.
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