Owens-Illinois Buys French Maker of Perrier Bottles
Owens-Illinois Inc., the world’s biggest manufacturer of glass bottles, agreed to purchase a closely held French bottlemaker that supplies Nestle SA’s Perrier.
Verrerie du Languedoc, based in Vergeze, France, operates one furnace and four production lines with 190 employees, Stephanie Johnston, an Owens-Illinois spokeswoman, said today in a telephone interview. The transaction will close in about six months, she said. Financial terms weren’t disclosed.
Buying Verrerie du Languedoc adds to Owens-Illinois’s $603 million purchase in September of Cia. Industrial de Vidros, Brazil’s third-largest glassmaker. Chief Executive Officer Al Stroucken said then that he planned to step up acquisitions for Owens-Illinois in Latin America and the Asia-Pacific region.
Owens-Illinois, based in Perrysburg, Ohio, gained 21 cents to $27.38 at 4:01 p.m. in New York Stock Exchange composite trading. The shares have fallen 17 percent this year.
Verrerie du Languedoc didn’t return a call seeking comment.
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