Dineo Faku dineo.faku@inl.co.za LUXEMBOURG-based Ardagh Group has agreed to acquire Consol Holdings, its rival and South Africa’s biggest glass-packaging manufacturer, for an equity value of R10 billion, it said on Friday.
Founded 75 years ago, Consol produces packaging for the food and beverage industries, inclusive of the beer, alcoholic fruit beverage, wine, fruit juice, soft drinks, mineral water and spirits markets. It operates production facilities in South Africa, Kenya, Nigeria and Ethiopia.
The deal is expected to expand Ardagh’s footprint on the African continent.
Commenting on the transaction, Ardagh’s chairperson, Paul Coulson, said Consol was a market leader in the region, with great relationships across a diversified domestic and multinational customer base. “Virtually all of Consol’s multinational customers are also customers of Ardagh. We look forward to welcoming Consol…