Silgan to acquire Graham Packaging

April 15, 2011

Silgan Holdings Inc., a leading supplier of rigid consumer goods packaging products, announced on April 13 that it has entered into a definitive merger agreement to acquire Graham Packaging Co., a leading global supplier of value-added rigid plastic containers for the food, specialty beverage and consumer products markets.

Pursuant to the merger agreement, Graham shareholders will receive 0.402 shares of Silgan common stock and $4.75 in cash for each share of Graham common stock, representing a total enterprise value, including net debt, of approximately $4.1 billion.

"This acquisition creates the premier Food and Specialty Beverage packaging company, allowing Silgan to significantly broaden its ability to serve these important markets with multiple rigid packaging options," said Tony Allott, Silgan's President and Chief Executive Officer. "Graham Packaging is a differentiated plastic packaging franchise with deep customer relationships and a strong track record for innovation. In combination, we anticipate building enhanced relationships with global customers in our target end markets," continued Allott.

Following the transaction, Silgan will be a world leader in food and specialty beverage packaging, with combined revenues of approximately $4.6 billion serving these end markets which are characterized by stable demand with large, growing multinational customers.

Press release