KPS Capital Partners, through its newly formed subsidiary, has signed an agreement with Ardagh to acquire Anchor Glass Container and its affiliates.
KPS partner Jay Bernstein said Anchor Glass is positioned well to supply the expanding craft beer and premium liquor segments of the glass packaging market.
"Our investment is the first step in creating a thriving enterprise in the glass packaging industry, and we intend to aggressively grow the Anchor Glass platform both organically and through acquisitions on a global scale," Bernstein added.
The transaction, which is expected to be completed in the second or third quarter of 2014, is subject to customary closing conditions and regulatory approvals.
With six manufacturing facilities situated in Florida, Georgia, Indiana, Minnesota, New York and Oklahoma, Anchor Glass produces glass packaging products for the beer, liquor, food, beverage and ready-to-drink end markets.
