Ardagh IPO leads to potentially interesting deals

Ardagh Group logo
The Ardagh Group raised €290 million in its New York IPO last month.
The Ardagh Group floated on the New York Stock Exchange last month and, as reported by Joe Brennan of the Irish Times, Davy analysts have said that Spanish glass container maker Vidrala and Swiss peer Vetropack may emerge as takeover targets for the group.
“The European glass sector in particular remains relatively fragmented, with the top three players – Verallia, Owens Illinois and Ardagh – controlling 57 per cent of the market,” said the Davy analysts, including Flor O’Donoghue and Barry Dixon. “There are a number of players with single-digit percentage market shares, including Vidrala (9 per cent) and Vetropack (6 per cent), which could prove potentially interesting deals for Ardagh.”


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