Vidrala acquires Chilean glassmaker Cristalerías Toro for USD 85m (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 USD 85m (EUR 75m) including assumed debt. The target, rebranded Vidrala Chile, ends a 70-year independent history and gives Vidrala its first production base in South America. Vidrala said net debt will remain around 0.5x 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 USD 85m (EUR 75m), including assumed debt.
• The target is renamed Vidrala Chile, ending Cristoro's 70-year history as an independent 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 serves food, cosmetics, pharmaceutical and household-goods glass packaging segments in Chile and export markets.
• Vidrala CEO Raul Gomez said the group will deploy its glassmaking model and promote glass as Chile's packaging material.

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