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Encirc's glass division - the former Quinn Glass - up for sale

Published:  20 October, 2014

Quinn Glass, the €400 million glass division under the now renamed Encirc umbrella, is up for sale by the group of lenders which owns its parent company Aventas.  

According to the Sunday Times, first round bids on the glass business, which is based in Derrylin, Co Fermanagh and Elton in Cheshire, are due this week. The paper reports that up to 10 serious bids are expected.

EncircEncirc's glass division up for saleEncirc is the new name for the company created from sister firms Quinn Glass and Cobevco. First round bids on the glass division, valued at around €400m, are expected this week.

Back in May Quinn Glass rebranded, along with Cobevco, as a single entity into Encirc, to encompass its glass manufacturing, filling, warehouse and logistics. The newly-named group Encirc now three divisions - one for glass, one for beverages and one for logistics. It is thought the bid refers only to the glass division.

Encirc produces over 6.5 million glass bottles and other containers daily, and fills more than 4 million litres of bulk shipped beverages every week. The company has annual revenues of almost £250 million and contracts with Diageo and Britvic.

It is understood an unsolicited buyout approach prompted the formal sale.

Aside from Encirc, Aventas also owns Quinn Building Products which makes quarry and concrete products among others, as well as Polycasa, a plastic sheet manufacturer, and Quinn Packaging.

Last week it announced the sale of Quinn Radiators to RHP Bidco, an Irish owned company chaired by Tony Mullins, for €25 million. The sale of a number of Aventas packaging and construction units is expected to complete, for about €85 million, by the middle of November.  The latter is being bought by a group known as QBRC, made up of former Quinn management, led by former managing director Liam McCaffrey. Private equity investor Endless LLP is also involved in the purchase.