Ardagh poised to become ‘major force in world packaging’ after €1.7bn deal

IRISH bottling company Ardagh Glass has bought international packaging group Impress Co-operative for €1.7 billion, in a deal being described as strategic for the business.

Ardagh has bought Impress – which is ranked as the second largest can manufacturer in Europe – from Doughty Hanson, the private equity house which owns TV3 and which has been in the running to take over the EBS Building Society.

The London-based equity firm will return €688 million of the proceeds from the sale to investors in two of its private equity funds.