The family of Brazil billionaire Moreira Salles is bidding to take over the French packaging company Verallia SA to help one if its key investments better navigate rising trade tensions.
The family on Monday said it is offering €30 ($32.42) per share of Verallia stock it doesn’t already own. Already the top shareholder, the family pledged to keep Verallia headquartered and listed in Paris. The manufacturer said its board of directors will examine the offer in detail.
Verallia is one of the biggest producers of glass packaging for beverages and food products, with manufacturing operations in 12 countries. Bloomberg reported on the takeover plan last month.
A successful deal would provide Verallia stability “in a challenging geopolitical and macroeconomic environment that is leading to client cautiousness and increased protectionism in several geographies,” the family said.
Verallia’s shares rose as much as 4.5% in Paris. They’re up around a fifth this year after slumping 30% in 2024.
French building-materials maker Cie. de Saint-Gobain SA owned Verallia until 2015, when it sold the business to buyout firm Apollo Global Management Inc. Apollo listed the company in an initial public offering in 2019.
The Moreira Salles family largely made its fortune in banking and through a niobium producer in Brazil. It co-controls banking giant Itau Unibanco Holding SA and has investments in energy and Havaianas flip-flop maker Alpargatas SA.