Astorg Partners
 
INVESTMENTS
 

Saverglass
Saverglass
  • Investment date : June 2011
  • Transaction size (Enterprise Value) : >300€m
  • Industry : Manufacturing
  • Activity : Luxury glass bottles
  • Previous Majority Shareholder : LBO Fund
  • Status : In portfolio
  • Fund : Astorg IV
Saverglass in short
Saverglass is the world leader in the design and manufacture of high quality glass bottles for spirits and fine wines and, marginally, for the perfume sector. Based in Feuquières (France), Saverglass has 2,200 employees and produces 300,000 tons of glass per year in 3 factories located in France (at Feuquières, Le Havre and Arques) with two bottle decoration workshops (at Feuquières and Coulommiers).

Saverglass has 11 commercial branches worldwide and generates 45% of its sales outside France. The group serves the world’s largest alcohol producers (Pernod-Ricard, Diageo, Bacardi Martini, LVMH, Rémy Martin), as well as many of the smaller premium wine and spirit producers.

The Saverglass opportunity as seen by Astorg Partners
• A world leader on a niche B-2-B market, with over 50% market share in its core business and high margins

• A favourable market dynamics benefiting from positive drivers : constant launch of new products and growth of the high-end segment of wines and spirits, following the trend of the luxury goods market worldwide

• A clear and focused strategy, consistently executed over the last 15 years

• A first class management team with a remarkable track-record

• An attractive valuation thanks to a pre-emptive approach fully supported by the management.

 Saverglass
« We are very satisfied with the outcome of the acquisition process. It falls to Astorg Partners, funds from which we find a genuine desire to understand our business model with the ability to engage in complex industrial issues alongside us. The crisis is now behind us. We are facing very strong and sustained demand that now requires us to examine, without delay, the means we need to implement in order to meet the new and more demanding expectations of our customers. »
Loïc Quentin de Gromard, CEO of Saverglass

More information on Saverglass
http://www.saverglass.com

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