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Turnaround specialist KPS Capital buys beer bottle company Anchor Glass

15 Apr 2014

Special situations investor KPS Capital Partners has agreed to acquire Anchor Glass Container Corporation from Ardagh Holdings USA for an undisclosed sum.

Anchor Glass is a North American manufacturer of premium glass packaging products for the beer, liquor, food, beverage and ready-to-drink end markets. The company is headquartered in Tampa, Florida and employs approximately 2,000 people, with six manufacturing facilities located in Florida, Georgia, Indiana, Minnesota, New York and Oklahoma, in addition to an engineering and spare parts facility in Illinois and a mold manufacturing facility in Ohio.

Jay Bernstein, partner, KPS, said, “Anchor Glass presents a tremendous investment opportunity. Anchor Glass is a leading North American manufacturer of premium glass packaging products with long-standing customer relationships and a widely recognized reputation for product quality, customer service and product innovation.

“The company is uniquely positioned to supply the rapidly expanding craft beer and premium liquor segments of the glass packaging market. Our investment is the first step in creating a thriving enterprise in the glass packaging industry, and we intend to aggressively grow the Anchor Glass platform both organically and through acquisitions on a global scale. We look forward to working CEO Jim Fredlake and all of Anchor Glass’ employees to catalyze the next phase of Anchor Glass’ growth.”

KPS is the manager of the KPS Special Situations Funds, a family of investment funds with over $6bn of assets under management. KPS portfolio companies have aggregate annual revenues of approximately $7bn, operate 93 manufacturing facilities in 26 countries.

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