European firm Vidrala buys Chilean glassware company

Cristoro has become known as Vidrala Chile, after Spanish company Vidrala sealed the acquisition of 100% of the glassware factory’s share capital for €75 million.

Chilean company Cristalerías Toro – known as “Cristoro” – has ended its more than 70-year history in the production and commercialization of glass packaging under that brand name. From today, it has become known as Vidrala Chile, after Spanish company Vidrala sealed the acquisition of 100% of the glassware factory’s share capital for a sum of €75 million, Radio Bio-Bio has reported.

Cristoro, defined as a family business, achieved positioning in the domestic and international markets in different industry segments, including food (bottles for wine, beer, soft drinks, oil and more), cosmetics, pharmaceuticals and household goods (jars).

In the 1950s, Cristoro gained fame for producing jugs, and later created yogurt and syrup bottles. In 1977, it was one of the pioneering companies to install glass recycling banks.

Last year, Cristalerías Toro generated sales of $79.915 million and an adjusted EBITDA of $13.216 million.

Spanish company Vidrala completes its entry into Chile

The multinational group Vidrala confirmed this Monday that it has completed the acquisition of 100% of the capital of Cristalerías Toro.

They added that the company will now be called Vidrala Chile.

The acquisition was completed for a total enterprise value of €75 million, including the debt assumed.

Raúl Gómez, CEO of Vidrala, stated that they would seek to «recognize the industrial legacy» of the Toro family, founders of the company.

«Today, we begin a new stage. Vidrala Chile is born, integrated into a multinational group with a firmly industrial, long-term and customer-focused vision. (…) We will deploy our glassmaking model, creating value in the country, boosting the industry and promoting glass as the definitive Chilean packaging material,» he commented.

Finally, in the context of the acquisition, Vidrala indicated that the group’s financial position «will remain solid”, with a resulting net debt limited to around 0.5 times the annual EBITDA.

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