Anders Invest has signed an agreement to purchase Royal Leerdam and its affiliated company Crisal – Cristalaria Automática from owners Libbey Glass.

The companies manufacture tableware for the European market under the Royal Leerdam and Crisal Glass brands, respectively, with a turnover of approximately €120 million with more than 600 employees.

Royal Leerdam was founded in 1878, and with the Crisal factory in Portugal, founded in 1944, has grown into a strong player in the European market for tableware glass.

The company operates from the production site in Leerdam in the Netherlands and Marinha Grande in Portugal.

In addition, a distribution centre is located in Gorinchem.

The combined operation serves customers in retail, wholesale and hospitality throughout Europe, Australia, India, New Zealand and the Middle East.

Libbey has decided to divest its European activities in order to strategically prioritize and expand its business within its core markets, especially the Americas.

The closing of this transaction is anticipated to occur at the end of May. Libbey and Anders Invest have agreed to maintain an ongoing commercial relationship, including uninterrupted access to products and other support.

“We believe we’ve found a good fit for our European business unit with Anders Invest, which is headquartered in the Netherlands, has a successful track record of actively managing and growing industrial companies, and intends to make future investments in the European operations,” said Mike Bauer, chief executive officer of Libbey. “While Libbey will continue to operate as a global business, the proposed transaction paves the path for us to better leverage our core strengths and accelerate long-term, sustainable growth, while meeting the needs of customers and end users and inspiring the makers of drinks, makers of meals and makers of memories.”

andersinvest.nl

www.libbey.com

Image: Anders Invest has bought tableware makers Royal Leerdam and Crisal from Libbey Glass.