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Affiliate of Sun European Partners agrees to sell Allied Glass

An affiliate of Sun European Partners has signed an agreement to sell Allied Glass to Verallia Group, one of the largest producers of glass packaging for beverages and food products globally.

Established in 1874, Allied is based in Leeds and is one of the leading manufacturers of glass packaging containers for premium spirits. It specialises in shorter production runs for bespoke premium bottles.

Since an affiliate of Sun European acquired Allied in December 2019, value creation is said to have accelerated through product innovation and increasing recycled content in glass production. 

Sun European was advised on the transaction by Baird (M&A Advisory), EY (financial), S&C (tax) and DLA Piper (legal).

Paul Daccus, Managing Director of Sun European Partners, said: “Allied is an outstanding business with an exceptional management team. Before investing in the company, we identified several operational opportunities and have worked with management since 2019 to execute on those, including ESG-friendly product innovation, SKU reporting and a significant capex programme enhancing plant utilisation. Our work with Allied Glass underlines Sun European’s commitment to partnering with outstanding management teams to drive value creation. This sale has allowed us to achieve a very successful outcome for Allied Glass and our investors, and we’re confident that Allied Glass will continue to go from strength to strength as part of Verallia, a global leader in glass manufacturing.”

Allied Glass CEO Alan Henderson added: “Our partnership with the Sun European team has been a great success, and today Allied Glass is a market leader in its field, with impressive technical capability and a flexible customer-focused approach. Our shared values and focus on delivering a customer-first strategy, combined with Sun European’s operational knowledge and deep manufacturing expertise have allowed us to transform and grow the business further over the last 2-3 years as well as creating further value through innovation and internal development.”

2 November 2022 - Bradley Weir