Hamburg, January 10, 2024

The Transaction

Global packaging leader TricorBraun has acquired glass packaging provider Glassland. The acquisition grows the German footprint of TricorBraun’s premium glass packaging business, Vetroelite, while broadening TricorBraun’s European presence. Financial terms were not disclosed.

Glassland serves producers of spirits and other beverages in Germany and Switzerland with an expansive catalogue of high-end glass bottle and closure designs.

“The Glassland team is equally passionate about customer service as they are about design, and as a result, they’ve built a longstanding business with an impressive reputation,” said Declan McCarthy, president, TricorBraun Europe. “We welcome Glassland to TricorBraun and look forward to supporting the team’s continued growth.”

“Joining TricorBraun and Vetroelite is an exciting step in Glassland’s history,” said Johannes Huth, founder and CEO, Glassland. “Working together provides access to global resources and expertise while preserving our dedication to the highest level of customer service. We look forward to future growth in the beer, spirits, and wine sectors in Germany and Switzerland, and serving other packaging segments in addition to glass with TricorBraun’s support.” 

All Glassland team members will remain with TricorBraun and continue to work out of their Bonn, Germany location. After a transition period, Glassland will fully integrate with Vetroelite.

The Role of Proventis Partners

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

The acquisition of Glassland is the second 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.

About Glassland

We believe in the beauty of glass, a strong network of experts, and agile and interdisciplinary collaboration. We are a powerful team of skilled specialists and concentrate on the perfect conception and the high-quality implementation of your projects.

About Vetroelite, a TricorBraun company

Vetroelite is one of Europe’s leading designers and distributors of high-end glass packaging. The company offers an exclusive range of glass containers (bottles, carafes, flasks, and jars) for liquid products, food products, room fragrances and other perfumery products. TricorBraun acquired Vetroelite in 2021.

About TricorBraun

Founded in 1902, TricorBraun is a global packaging leader. We leverage our global scale, comprehensive scope, and unparalleled expertise to solve customers’ complex packaging problems and help them win in the marketplace. TricorBraun is comprised of more than 2,100 packaging professionals operating from more than 100 locations across the Americas, Europe, Asia, and Australia. Since its founding, TricorBraun has partnered with management teams to successfully acquire and further accelerate growth for 41 packaging companies globally.

About Proventis Partners

Proventis Partners is a partner-led M&A advisory firm whose clients are mainly medium-sized family-owned companies, corporate groups as well as private equity funds. With more than 30 M&A advisors, Proventis Partners is one of the leading independent M&A advisory firms in the German-speaking region and looks back on more than 20 years of M&A experience and over 430 completed transactions. With offices in Frankfurt, Hamburg and Zurich, Proventis Partners is active across various sectors, including Industrials, Chemicals & Materials, Business Services, Technology & Media, Consumer & Retail and Healthcare. The exclusive membership in the Mergers Alliance - an international partnership of leading M&A specialists - enables Proventis Partners to support clients in 30 countries in the most important markets worldwide. The Mergers Alliance members with their more than 250 M&A professionals provide Proventis Partners and thus its clients with unique access to local markets in Europe, North America, Latin America, Asia and Africa.

For further information about Proventis Partners please refer to www.proventis.com