Vidrala completes acquisition of Chilean glassmaker Cristalerías Toro for EUR 75m
Spanish glass packaging group Vidrala has completed the acquisition of 100% of Chilean glass manufacturer Cristalerías Toro, known as Cristoro, for an enterprise value of EUR 75m (USD 84m) including assumed debt. The business has been renamed Vidrala Chile and gives the group its first production base in South America, after more than 70 years as an independent family company. Vidrala said net debt will remain at around 0.5 times annual EBITDA following the deal.
Why this mattersVidrala gains its first South American production base and takes out an independent Chilean producer, extending European glassmakers' consolidation of regional capacity.
- Vidrala acquired 100% of Cristalerías Toro's share capital for an enterprise value of EUR 75m (USD 84m), including assumed debt.
- The target is renamed Vidrala Chile, ending more than 70 years of Cristoro as an independent glass packaging brand.
- Cristalerías Toro generated sales of USD 79.915m and adjusted EBITDA of USD 13.216m last year.
- Vidrala said its net debt will remain at around 0.5 times annual EBITDA after the acquisition.
- Cristoro supplies glass packaging to the food, cosmetics, pharmaceutical and household-goods segments in Chile and export markets.
- Vidrala CEO Raúl Gómez said the group will deploy its glassmaking model in Chile and recognise the Toro family's industrial legacy.