Owens-Illinois Purchases 49% of Central American Manufacturer; Maintaining $19.50 FVE
Owens-Illinois announced this morning that it purchased 49% of Empresas Comegua, a glass bottle manufacturer operating out of Central America and the Caribbean for $119 million. Empresas has facilities located in Costa Rica and Guatemala. The deal expands Owens-Illinois' footprint in Latin America, which is one of the company's most profitable regions. Management disclosed that the deal valued the business at just under 6 times estimated 2018 EBITDA. We view this as a reasonable price given our ...Owens-Illinois is a manufacturer of glass containers. The company has three reportable segments based on its geographic locations: Americas, Europe, and Asia Pacific. The company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits and wine. The company also produces glass packaging for a variety of food items, soft drinks, teas, juices and pharmaceuticals. The company manufactures glass containers in a range of sizes, shapes and colors. The company also provides engineering support for its glass manufacturing operations through facilities located in the U.S., Australia, France, Poland and Peru.
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