Libbey Acquires Royal Leerdam
January 13, 2003
Libbey Inc. recently announced that it has consummated the acquisition of the stock of B.V. Koninklijke Nederlandsche Glasfabriek Leerdam (Royal Leerdam) from BSN Glasspack. The deal was a cash transaction and is valued at 42.3 million euros. Royal Leerdam manufactures and markets high-quality glass stemware, including popular wine glasses. It operates a manufacturing and distribution facility in Leerdam, The Netherlands, and employs approximately 450 associates. The acquisition is consistent with Libbey's external growth strategy to be a supplier of high-quality, machine-made glass tableware products to key markets worldwide. In addition to contributing to sales, operating profits and bottom-line earnings, Royal Leerdam will add to the sizable cash flow generated by Libbey. As a result, it is expected to contribute to Libbey's track record of strong cash return on invested capital, regular debt reduction and increasing financial strength over time.
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