Ardagh cuts a $1.7bn deal for US giant

Glass and packaging group Ardagh has reached initial agreement to acquire Verallia North America — the second largest glass container manufacturer in the US — from French multinational, Saint-Gobain for around $1.7bn (€1.27bn).

The deal — which is dependent on agreement from the French group’s works council and US regulatory approval — is expected to be completed later this year and would, if successful, represent the Irish group’s biggest single deal since buying international metal packaging giant, Impress in 2010.

Verallia would also represent Ardagh’s third US glass purchase — the two previous ones, being New Jersey company Leone Industries and the Florida-based Anchor Glass Container Corporation — and significantly boost its share of the American glass packaging market past the existing 20% mark.