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Silgan Holdings Inc Announces Agreement To Acquire Portola Packaging Inc

Wednesday, 14 Aug 2013 04:15pm EDT 

Dow Jones reported that Silgan Holdings Inc has entered into a definitive agreement to purchase Portola Packaging, Inc. This business, with sales of approximately $200 million in 2012, operates eight facilities in North America and Europe. The purchase price for this transaction is $266 million, and the acquisition is expected to be slightly accretive to earnings initially, excluding the impact of the required purchase accounting write-up of inventory, becoming more accretive as synergies are phased in over the next eighteen months following the closing. The transaction is expected to close as early as September 2013. 

Company Quote

-0.52 -1.01%
1:27pm EST