07 / 19 / 23
SMPS Legal advised Vidrio Formas, the second largest Mexican company that manufactures generic and exclusive glass containers, which was partially acquired by BA Glass, a Portuguese glass packaging producer that is ranked 4th in the world.
MEXICO CITY, MEXICO, June 19th, 2023 – BA Glass has taken a significant step forward in its international expansion through the signing of an agreement to acquire a majority stake in the Mexican Glass Packaging producer Vidrio Formas. This strategic move allows BA Glass to expand its presence into a new country and continent and opens exciting opportunities and challenges for the years ahead for Vidrio Formas and its original shareholders.
Vidrio Formas industrial platform is enhanced by this acquisition, which strengthens BA Glass’ position in the glass packaging industry, increasing its international presence and leveraging the industrial and commercial capabilities of the Group. The transaction is expected to close by year-end once the required authorizations are obtained.
BA Glass Group CEO expressed the enthusiasm of both teams in being part of a common project, joining the best knowledge and experience of both companies. “The most relevant assets of any company are its people and customers, and we found many of those in Vidrio Formas”, said Sandra Sandra Santos.
This movement is a strong step on BA Glass’ commitment to its growth roadmap and its determination to increase its successful operations on a global scale. After this acquisition, BA Glass will overcome EUR 1,8 Bn of turnover and EUR 600 million of EBITDA enlarging its team to 4,800 employees with more than 15 nationalities.
Vidrio Formas is a relevant Mexican player, focused on the spirits and food segments with 2 plants located in Mexico and 125M Euros turnover in 2022.
BA Glass is the fourth largest glass packaging producer in the world, serving the food and beverage markets with 12 plants located in Europe, an annual production of over 10 billion of glass and jars and sales over 1,5Bn Euros in 2022.
SMPS Legal reviewed and negotiated the transaction documents for the acquisition. We conformed a multidisciplinary group of lawyers including corporate M&A, tax and antitrust experts for the sale by Vidrio Formas’ shareholders and to structure the group companies for Vidrio Formas to become the holding entity of the other group entities; advise on all matters involving legal due diligence; and prepare the notice to the Mexican Antitrust Commission, which authorization is required to close the transaction.