Monthly update January 2025
This month, we have news on two portfolio companies: Verallia and McBride.
Verallia: Takeover Rumors and O-I Plant Closure
Verallia's stock surged by over 10% on rumors of a potential takeover bid from its majority shareholder, the Brazilian Moreira family. It’s important to note that this family has purchased a significant number of shares above €35.
According to a Reuters report (January 31, 2025), the Moreira family is considering a full acquisition of the company. However, the French government's 7.61% stake in Verallia could make the deal challenging to execute.
On a related note, O-I has announced the closure of its plant in Barcelona. A reduction in capacity by a competitor is positive for the margins across the indsutry.
https://www.glass-international.com/news/o-i-barcelona-glass-plant-looks-set-to-close
McBride: Trading Update and Debt Refinancing
On January 17, McBride issued a trading update covering results from June 30, 2024, to December 31, 2024.
Notably, both revenues grew by 2.9% and operating profit increased by approximately 8%, demonstrating the company's ongoing progress in improving efficiency.
The most significant announcement was the refinancing of their debt, which will allow McBride to resume dividend payments. This move has clearly been well received by the market.
https://d2ysp6t8sg26jc.cloudfront.net/2025-01-17/6603T/9de6c62ec4771ba9a60c1f4590759c5906dba70d.html