Silgan Holdings and AIP Propose $3.4 Billion Trivium Acquisition

Silgan Holdings and American Industrial Partners announced a proposed acquisition of Trivium Packaging on October 19, valuing the company at approximately $3.4 billion in enterprise value. Under the terms of the agreement, Silgan will maintain a controlling 60% interest and receive $2.3 billion in cash to retire existing debt, while American Industrial Partners will hold the remaining 40% and contribute roughly $1 billion in cash equity.

The transaction follows a decision by the Ontario Teachers’ Pension Plan to exit its majority stake and an agreement by minority partner Ardagh Group to sell its 42% holding. Silgan projects the acquisition will result in at least 15% accretion to adjusted earnings per share and free cash flow, driven by $225 million in anticipated synergies.

The deal is expected to close in mid-2027, pending regulatory approvals and customary conditions.