Ardagh Group (NYSE: ARD), which supplies aluminum cans for Mark Anthony Group in the packaging of White Claw, today announced a merger with The Gores Group in a deal valued at approximately $8.5 billion. ARD stock closed on yesterday at $19.75 per share, just over double its 52-week low of $9.20.


The deal with the global investment firm combines Ardagh’s can packaging business to create a new company called Ardagh Metal Packaging, or “AMP.” The new company hopes to be listed on the NYSE as AMBP.


Ardagh Group, with operations based in Luxembourg, will retain approximately 80% of the new company. The deal includes $3.4 billion in cash to Ardagh. In the announcement, Oliver Graham, CEO of Ardagh’s Metal Beverage division, was named CEO of AMP. Paul Coulson, Chairman and CEO of Ardagh, will serve as Chairman of AMP, and Shaun Murphy, COO of Ardagh, will serve as Vice Chairman.


The new organization will enjoy a top position among can manufacturers in Europe and the Americas. The company is believed to be the only public company focusing solely on beverage cans.

“Ardagh Metal Packaging is benefiting from long-term megatrends, including sustainability and changing consumer preferences,” said Coulson.


According to the chairman of Gores, Alec Gores, the new company will “execute a targeted expansion strategy supported by highly visible market demand and a strong track record of disciplined and efficient capital deployment.”

Ardagh’s metal packaging business operates 23 production facilities in Europe and the Americas, employs approximately 4,900 people and recorded revenues of $3.5 billion in 2020. The company purchased Anchor Glass Container Corporation in an August 2012 deal valued at $880 million.


Aiden Gentson
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