Glass bottle maker Allied Glass has been sold to French firm Verallia, thought to be the world's third largest producer of glass containers.
The £315m deal was struck with Allied's owners, an affiliate of Sun European Partners LLP, and will help Verallia expand in northern Europe. Leeds-based Allied, which employs about 600 people, will integrate into the international group.
Verallia will finance the acquisition from existing cash and said Allied's expertise in producing whisky and gin bottles would boost its offer in the premium glass bottles market. The French multinational said it expected the acquisition to have a gradual positive impact on its adjusted EBITDA margin.
