Food & Specialty Metal Packaging business completed $2.5bn merger with Exal.

Ardagh'S Food & Specialty Metal Packaging business completed $2.5bn merger with Exal, a producer of aluminum containers which was controlled by Ontario Teachers’ Pension Plan Board, to form Trivium Packaging. Upon completion of the transaction, Ardagh holds a 43% stake in Trivium and received $2.5bn in cash proceeds, Ontario Teachers controls 57% stake. “Ardagh is delighted to partner with Ontario Teachers’ as shareholders in Trivium, a combination of two highly complementary and well-invested businesses. Trivium has the products, customers, innovation capabilities and leadership team to deliver continued growth and success, as brand owners and consumers increasingly seek sustainable packaging solutions,” Paul Coulson, Ardagh Chairman and CEO of and Trivium Chairman.