Paris, France – Paul Hastings LLP, a leading global law firm, has advised Astorg as global alternative asset manager The Carlyle Group today announced it has entered into exclusive discussions with Astorg to acquire a majority controlling stake in high-end glass packaging manufacturer Saverglass, alongside the Management.
Headquartered in Feuquières (Oise, France), Saverglass designs, manufactures and decorates premium glass packaging for high-end Wines and Spirits. Saverglass operates six glass and decoration facilities in France and one in United Arab Emirates (UAE). It employs approximately 2,600 people across the globe. Founded in France in 1897, Saverglass has successfully expanded its footprint globally and sells 400,000 tons of glass per year (700 million bottles) in more than 80 countries. Saverglass’ savoir-faire, inherited from a long-standing tradition of glassmaking, combined with its innovative design and decoration capabilities is widely recognised across the industry. It positions Saverglass as a partner of choice for premium Wine and Spirits companies.
The offer is subject to the consultation process of the relevant “Comités d'entreprise” (French employee works’ councils) and all parties will enter into the final negotiations on successful completion of this process. Carlyle’s equity for the transaction would be provided by Carlyle Europe Partners IV.
The Paul Hastings team was led by Paris partner Alexis Terray with associates Sébastien Crépy and Claire Le Louarn, tax partner Allard de Waal and associate Thomas Pulcini.