• The deal will help take take Orora to a position of one of the world’s biggest glass bottle manufacturers.
    The deal will help take take Orora to a position of one of the world’s biggest glass bottle manufacturers.
Close×

Orora has completed the acquisition of 100 per cent of Saverglass through purchasing all of the shares of holding company Olympe SAS. The move will help make Orora one of the world's largest glass bottle manufacturers.

Orora announced in September that it would invest $2.15 billion to acquire the French-based global bottle manufacturer. $1.345 billion of that was raised from its markets, with the remainder coming from debt financing.

The company says that Saverglass represents a unique acquisition of a high-quality business, enhancing Orora's strategic advantage, scale, diversification and its future growth opportunities.

It has funded the acquisition with the proceeds of its equity raising comprising an institutional placement and accelerated non-renounceable entitlement offer, and extended Global Syndicated Facility Agreements. The debt maturity profile of the group is now 4.3 years.

Syndication of the debt facilities was heavily oversubscribed, reflecting the strong support from existing and new lenders to Orora and Saverglass. This refinance reinforces Orora’s debt capital structure whilst also providing financial flexibility.

Orora CEO Brian Lowe said, “We are extremely pleased to announce the completion of the acquisition of Saverglass. This strategic acquisition further strengthens our existing business, establishing Orora as a global player of scale in attractive premium segments. I am thrilled that Saverglass is now officially part of the Orora Group, and I look forward to working with the Saverglass team.”

Food & Drink Business

Hang 10 Distillery was created by Deon Rowe and Marine Raynard after the ABC’s War on Waste series inspired them to find a way to tackle food waste by making sustainable spirits. Keira Joyce speaks to the pair about the road to making a world-first whisky with leftover sourdough.

Trending into 2025

Whether consumers are trying to drink less, eat more protein or focus on a more wholefood diet, understanding consumer behaviour is a key component for innovation, NPD, and growth in the food and beverage sector. Kim Berry looks at some of the main motivators in 2025.

Scientists from Hunan Agricultural University in China have developed a new strain of rice that emits up to 70 per cent less methane, aiming to tackle the 12 per cent of global methane emissions resulting from rice cultivation.