Australian packaging company Orora will acquire prestigious French glass bottle manufacturer Saverglass from PE firm Carlyle Group in a deal worth approximately $1.4 billion. The strategic move is expected to boost the ASX-listed manufacturer's revenues by almost 30%.

Founded in 1897 in France, Saverglass specializes in the production, finishing and decoration of premium glass bottles. The company produces approximately 700 million bottles annually and operates six glass factories and four decorating plants in France, Belgium, Mexico and the United Arab Emirates. The 126-year-old company, which has a 33% share of the global premium spirits bottle market, has been owned by The Carlyle Group fund since 2016 which has been considering exit options since at least 2021.

Orora is a leading manufacturer and distributor of sustainable and innovative packaging for customers around the world. The ASX-listed company is headquartered in Melbourne and employs more than 4,600 people across 23 manufacturing facilities and 80 distribution sites in seven countries. It was formed in 2013 as a 'spin off' from packaging giant Amcor and boasts a market capitalisation of AUD$3 billion.

Orora has expressed optimism about its upcoming fiscal year and expects profits to increase. This positive outlook is attributed to the strong performance of its Australasian business in the previous fiscal year, which saw double-digit sales growth, boosted by an increased number of cans sold.