Proventis Partners advised TricorBraun on its acquisition

TricorBraun, a global packaging leader, announced today that it has entered into an agreement to acquire German-based Euroglas Verpackungsgesellschaft mbH and Austrian-based Glaspack Verpackungsglashandelsgesellschaft m.b.H., distributors of rigid packaging solutions for the European market. These acquisitions expand TricorBraun’s packaging footprint in the DACH region (Germany, Austria, Switzerland). Financial terms were not disclosed.

Both founded in 1992, Euroglas and Glaspack are family-run companies. Euroglas is one of Europe’s leading suppliers of high-quality glass packaging. The company provides stock and custom packaging for the food, beverage, and spirits sectors. Glaspack provides stock and custom packaging for the wine, beer, and food sectors and is a leading supplier of wine packaging for the Austrian market.

“Euroglas and Glaspack are known for their quality, innovation, and customer service, and they’ve built longstanding businesses with impressive reputations,” said Mark O’Bryan, COO of TricorBraun. “Combining Euroglas’ and Glaspack’s expertise in key end markets with TricorBraun’s own supply chain and regional penetration will provide new opportunities to support our customers’ growth in Europe.”

“Joining TricorBraun is an exciting new chapter for us,” said Christoph Jäckle, Managing Director, Euroglas. “By working together, we can provide access to global resources and expertise while maintaining our dedication to quality and local customer service.”

All Euroglas and Glaspack team members will remain with TricorBraun and continue to work out of the companies’ existing locations. Effective upon the close of the transaction, Euroglas will be known as Euroglas, a TricorBraun company, and Glaspack will be known as Glaspack, a TricorBraun company.

Proventis Partners acted as exclusive M&A advisor to TricorBraun. After identifying and approaching Euroglas and Glaspack, Proventis Partners moderated the discussions between the parties, evaluated the target company, coordinated the due diligence process and supported the negotiations until the successful signing.

The acquisition of Euroglas and Glaspack is the third transaction in Germany that TricorBraun and Proventis Partners have successfully collaborated on. The deal team of Proventis Partners consisted of Ulrich Schneider, John Juergens and Andre Tasch.