Italy's Investindustrial picks banks to explore sale of bottle cap maker Guala Closures, sources say

Mediobanca Banca Di Credito Finanziario SpA

08/09/2026 18:11

By Elvira Pollina and Valentina Za
MILAN, Sept 8 (Reuters) - Private equity firm Investindustrial has picked JPMorgan and Mediobanca as it started to explore a potential sale of Italian bottle cap maker Guala Closures, three people with knowledge of the matter told Reuters.
The process is in its early stages and there is no certainty it will lead to a deal, the sources said, requesting anonymity because the discussions are private.
Guala Closures generated around €200 million in adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) last year, according to its annual financial report.
Two of the sources said peers trade at around eight to nine times its earnings. That would imply a value of roughly €1.6 billion to €1.8 billion for Guala Closures based on last year's earnings. 
     Investindustrial, Mediobanca, JPMorgan, and Guala Closures declined to comment.
Headquartered near Alessandria in Italy's northwestern Piedmont region, Guala Closures makes bottle caps and closures for spirits, wine, beer, soft drinks, edible oils and condiments. The group, which specializes in security closures designed to prevent counterfeiting and tampering, operates 40 production facilities across Europe, the Americas, Africa and Asia Pacific. It generates around 90% of its revenue outside Italy.
     Guala Closures, which Investindustrial took private in 2021, has sought to diversify its business through acquisitions recently, entering the pharmaceutical packaging sector with the purchase of Austria's KWK earlier this year. It has also expanded its crown corks and plastic closures operations through acquisitions in East Africa and India, buying Metal Crowns and Oriental Containers respectively.
     
     

 (Reporting by Elvira Pollina, Valentina Za, additional reporting Elisa Anzolin
editing by Anousha Sakoui and Tomasz Janowski)
 ((elvira.pollina@thomsonreuters.com))