Bormioli Luigi Acquires Bormioli Rocco
July 18, 2017,
Bormioli Luigi has partnered with the European investment firm Triton to purchase the tabletop and pharmaceutical packaging business divisions of Bormioli Rocco, which is owned by Vision Capital.
The two business divisions will be run independently of each other; Bormioli Luigi is acquiring the tabletop division and Triton is acquiring the pharmaceutical division. Terms of the deal, which is dependent on regulatory approval, were not disclosed.
“With the historical acquisition of Bormioli Rocco tableware, Bormioli Luigi will expand the perimeters of its organizational and material resources in order to develop original and virtuous ways of doing business in glass, to the advantage of client’s interests leveraging on both companies’ knowledge, culture and capabilities,” said Alberto Bormioli, president of Bormioli Luigi. Alberto Bormioli is a majority shareholder and the company founder’s son.
Bormioli Luigi is a specialized glass company that in addition to its stemware and serveware collections manufactures containers for perfume and spirits bottles. Bormioli Rocco, established in 1825, is a glass tabletop manufacturer as well as a leader in Italian pharmaceutical packaging, which are two separate business units. The company has eight manufacturing plants, two decoration ateliers, several subsidiaries and seven branded tabletop stores. It employs more than 2,000 people and has annual revenues of 440 million euros, or $463 million, according to a statement.
“Bormioli Rocco ... has been building its current presence over the last decades,” said Riccardo Garrè, executive chairman of Bormioli Rocco. “These transactions are an important milestone since, on top of allowing us to pay off all financial debt, they are enabling us to continue with our strategic efforts with a more focused approach on the two respective single divisions. We welcome the new majority owners respectively, as investors who will support us in executing our plans and continuing to be the leaders in each of our industries.”
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