Date: 23 December 2015
Saverglass operates six glass and decoration facilities in France and one in United Arab Emirates (UAE). It employs approximately 2,600 people across the globe. Founded in France in 1897, Saverglass has successfully expanded its footprint globally and sells 400,000 tons of glass per year in more than 80 countries. Saverglass’ savoir-faire, inherited from a long-standing tradition of glassmaking, combined with its innovative design and decoration capabilities is widely recognised across the industry. It positions Saverglass as a partner of choice for premium Wine and Spirits companies.
Loïc Quentin de Gromard, CEO, Saverglass, said: "The exciting and promising partnership envisaged with Carlyle would take place at the end of a challenging period in the Wine and Spirit industry. Saverglass has embraced in the recent years several sizable investments such as the construction of a 100,000 ton glassworks in the UAE as well as a state-of-the-art decoration plant in Arques (Pas-de-Calais, France). Carlyle’s global footprint and expertise will help us to sustain the international development of Saverglass."
Xavier Moreno, Chairman and Managing Partner of Astorg, commented: "Since 2011, we have led and financed a major step in Saverglass development, and investment in its production capacity, combined with an export driven fast growth in North America and Australia. We have benefited from the remarkable set of skills and dedication of all Saverglass employees and managers. We thank them for the performance achieved. They deserve the credit for the 25 years of successes of this French world champion in high-end glass bottles for Wines and Spirits. No doubt that Saverglass, backed by its new shareholder, will keep its entrepreneurial spirit and growth momentum."
Jonathan Zafrani, Managing Director, Carlyle Europe Partners, added: "We are particularly impressed by Saverglass’ 25-year track-record and its unique position on the market, supported by its technological expertise, its creative abilities and its quality of service. We are delighted to partner with its management team, support the Group in its next phase of development and to help promote French luxury expertise throughout the world.” Benjamin Deshayes, Director, Carlyle Europe Partners, added: “Saverglass perfectly fits Carlyle’s investment philosophy: the Group has attractive prospects based on the secular growth trends underpinning its markets and has developed a proven business model to meet the needs of its demanding premium customers."
The offer is subject to the consultation process of the relevant “Comités d'entreprise” (French employee works’ councils) and all parties will enter into the final negotiations on successful completion of this process. Carlyle’s equity for the transaction would be provided by Carlyle Europe Partners IV.
About SaverglassSaverglass, a high-end producer of bottles and carafes for the premium spirit, fine wine and perfume markets, employs 2,600 persons in France and in the world (3 glassworks and 3 decoration plants in France, 1 plant in the UAE) The Group, headquartered in Feuquières (Oise, France), achieved in 2014 a turnover of €395m. Widely recognised for its design, manufacture and decoration capabilities, Saverglass addresses the spirits, fine wine and perfume sectors. Web: www.saverglass.com
Astorg is an independent private equity fund management company, specializing in European mid-market buyouts, with total funds under management of over €4 billion. Astorg seeks to partner with successful and entrepreneurial management teams, to acquire businesses - very often family-owned - with attractive growth prospects, which Astorg supports through the provision of experienced governance and adequate capital. Astorg enjoys a distinct entrepreneurial culture, a long-term shareholder perspective, and a lean decision-making body enhancing its reactivity. Although a multi-sector investor, Astorg has developed solid industry expertise in healthcare, business-to-business professional services and niche industrial companies selling differentiated, often technology-driven, products. Astorg is headquartered in Paris and has offices in London and in Luxembourg, plus Senior Advisors based in Holland, Switzerland and Germany. Visit www.astorg-partners.com
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $188 billion of assets under management across 126 funds and 160 fund of funds vehicles as of September 30, 2015. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,700 people in 35 offices across six continents.
About Carlyle Europe Partners
Carlyle Europe Partners seeks to invest in upper- and mid-size companies in Europe across a wide range of sectors and industries, accelerate their growth and support their efforts to expand internationally. The current fund is now the fourth in the CEP franchise. The fund is managed by a team of 39 investment professionals across five offices. Saverglass would be the eighth investment from Carlyle Europe Partners IV.