Silgan completes acquisition of Portola

Silgan Holdings, a supplier of rigid packaging for shelf-stable food and other consumer goods products, which operates 89 manufacturing facilities in the US, Europe and Asia, has completed its acquisition of closure maker Portola Packaging for US$266 million. Silgan funded the acquisition through revolving loan borrowings under its senior secured credit facility.

Portola posted sales of approximately US$200 million in 2012, and operates eight facilities in the US and Europe.


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