Verallia - Latin America as the main growth driver - Initiating Coverage
Verallia is Europe's leading and the world's third-largestproducer of glass packaging. Since 2016, the group has enjoyedaverage annual growth of +6.6%, with a clear acceleration in2022. The last financial year was driven by strong globaldemand, particularly in Latin America, where the market is ledby Brazil.Having left the Saint-Gobain fold in 2015, the companywent public in 2019 based on a market capitalisation morethan €3bn, equivalent to 8.1x EBITDA. The purpose of the dealwas to organise the exit of the US fund Apollo, which hadbought the group four years earlier. Since then, the glass sectorhas shown its resilience in the face ofVerallia SAS Formerly known as Verallia SASU. Verallia SASU is a France-based company, which operates as a producer of glass packaging solutions. The Company manufactures a number of jars and bottles for various markets, including the still and sparkling wine, spirits, food, as well as the beer and nonalcoholic sectors. Apart from France, the Company also operates in many countries in Western Europe, Eastern Europe and South America, among others.
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