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Silgan, American Industrial Partners to Acquire Trivium Packaging in $3.4 Billion Deal

Silgan, American Industrial Partners to Acquire Trivium Packaging in $3.4 Billion Deal

MT newswireMT newswire2026/10/19 14:58
By:MT newswire
10:58 AM EDT, 10/19/2026 (MT Newswires) -- Silgan (SLGN) and American Industrial Partners will acquire Dutch metal packaging products manufacturer Trivium Packaging, creating a $7.3 billion global metal packaging supplier for the food and beverage markets. The acquirers plan to set up a company that will combine Silgan's metal containers and food and beverage flat cap closures businesses with Trivium, according to a joint statement released Monday. The deal values Trivium at about $3.4 billion. Ontario Teachers' Pension Plan and Ardagh Group currently own Trivium. The formation and capitalization of Silgan Metal Containers and Closures is expected to generate about $2.3 billion for the consumer goods packaging maker, while private equity firm American Industrial Partners will contribute about $1 billion to support the acquisition and future growth plans. Silgan will hold a 60% stake in the business, with American Industrial Partners owning the remaining 40%. "This combination creates an even more differentiated global partner for food and beverage packaging customers," Silgan Chief Executive Adam Greenlee said in the statement. Silgan's shares rose 5.9% in Monday trade, reducing its year-to-date loss to 0.9%. "Silgan and Trivium are exceptional companies with strong track records, and we are excited to partner with them to help execute this value-creating transaction and capture attractive opportunities for the combined business," American Industrial Partners Managing Partner Dino Cusumano said. Silgan will consolidate its dispensing and custom containers operations into one segment, called Silgan Dispensing Solutions, which will operate as a specialty packaging platform. The transaction, which requires approval from regulators, is expected to complete in the middle of next year. Silgan estimates the deal to be at least 15% accretive to its adjusted earnings on a per-share basis and generate $225 million in synergies by the end of the third year of completion. Silgan reiterated its adjusted EPS outlooks for the third quarter and full year. In July, the company expected adjusted EPS of $1.21 to $1.31 for the third quarter and $3.73 to $3.93 for 2026. The current consensus on FactSet is for non-GAAP EPS of $1.25 for the September quarter and $3.81 for the current year. The company is scheduled to release its latest financial results on Oct. 29. In April, German medical packaging maker Gerresheimer rejected Silgan's non-binding takeover offer, Reuters reported at the time. In 2024, Silgan purchased packaging solutions provider Weener Plastics for 838 million euros ($939.8 million). In the broader consumer goods packaging industry, Amcor (AMCR) bought Berry Global last year creating a global packaging company with combined $24 billion in revenue. Also in 2025, International Paper (IP) acquired DS Smith. Price: 39.47, Change: +1.67, Percent Change: +4.42
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