Silgan agrees to buy can maker Trivium for about $3.4 billion with private equity partner

US packaging company Silgan Holdings has agreed to buy Amsterdam-based metal packaging maker Trivium in an all-cash deal that values Trivium at an enterprise value of about US$3.4 billion, Silgan, Trivium and private equity firm American Industrial Partners (AIP) announced on Monday 19 October.

Trivium will be combined with Silgan’s metal containers business and its food and beverage flat cap closures business in a new company called Silgan Metal Containers and Closures (Silgan MCC). Silgan described the combination as a US$7.3 billion global metal packaging business.

Silgan will own 60% of the new company and AIP 40%. AIP will put in about US$1.0 billion of cash, and Silgan will receive about US$2.3 billion in cash, which it said will be used to repay some existing debt. The rest of the funding will come from committed bank loans, the companies said.

Silgan said it expects about US$225 million in yearly cost savings by the end of the third year and at least a 15% increase in its adjusted earnings per share including those savings.

“This transaction is expected to generate substantial value for shareholders,” Silgan chief executive Adam Greenlee said. Trivium chief executive Michael Mapes said the deal would let the company “operate with increased scale and reach”.

Silgan’s dispensing and custom containers businesses will form a separate unit, Silgan Dispensing Solutions, which Silgan will keep in full. Silgan said the structure creates a possible path to a tax-free separation of the two businesses.

The deal is expected to close in mid-2027, subject to regulatory approvals and works council consultations. Trivium has 57 locations and about 7,200 employees, and had net sales of about US$3 billion in 2025, according to the announcement.