The Moreira Salles family announced on Monday (10) that it will launch a public offering of the acquisition of the actions of the French bottling Verallia that does not yet have and confirmed that it will pay 30 euros by paper, evaluating the company by 6.1 billion euros.
The group’s actions, which manufactures champagne and brandy bottles, among other drinks, rose 4% at the beginning of the trading session. The role accumulates high of about 21% since the beginning of the year, driven by negotiations with the Moreira Salles.
BW Investment Management (BWGI), owned by Holding Moreira Salles Brasil Warrant (BWSA), said in February that he wanted to buy Verallia, which already has a stake of about 28.8%, but would evaluate an offer for the rest of the company after the company’s annual results.
At the end of the month, the French group released operating profit measured by EBITDA adjusted slightly above expected by the market for 2024 and said it expects similar profit level in 2025, with more than double the free cash flow generation.
BWGI said the offer period ends at the end of the first half and added that it does not plan to remove the company from the scholarship and that the offer will not lead to any job cuts.
France’s alcohol sector is under pressure due to Chinese brandy tariffs and other beverages manufactured in Europe and the slowdown of sales in China, leading companies such as Hennessy, owned by LVMH, considering traffic jam in some of their products in China.
Continues after advertising
Verallia makes most of its sales in Europe, including the traffic jam in France. “In a complex environment, BWGI’s goal is to reinforce Verallia’s stability,” the holding company told a statement.
The bottler said she created an ad hoc committee to evaluate the offer and will discuss with BWGI in the coming weeks.
“The board of directors will meet to issue its grounded opinion on the offer, after analyzing the independent expert’s report and the Ad hoc committee recommendations,” he added.
