Silgan Seals $3.4B Trivium Deal, Keeps 60% Control Of $7.3B Packaging Business

Silgan Holdings Inc. has agreed to acquire Trivium Packaging B.V. for approximately $3.4 billion in an all-cash transaction, which will combine Trivium with Silgan's existing metal packaging businesses to form Silgan Metal Containers and Closures, valued at about $7.3 billion. The deal is expected to generate $225 million in synergies by the end of year three and drive at least 15% accretion to adjusted EPS and free cash flow. Silgan will retain a 60% controlling stake in the new entity, with American Industrial Partners owning the remaining 40%. Following the announcement, Silgan's shares rose 6.24% to $40.16.