Brookfield in advanced talks to acquire PGP Glass from Blackstone for up to $1.5 billion
Brookfield is reportedly nearing a binding deal to buy PGP Glass, a supplier of glass packaging for cosmetics, spirits, food and pharma. The company posted FY25 income of Rs 4,278 crore, with cosmetics and specialty spirits contributing 77% of sales.
What happened
Brookfield is in advanced talks to buy India-based packaging supplier PGP Glass from Blackstone for $1.3-$1.5 billion. PGP supplies glass packaging to
Key facts
- $1.3-$1.5 billion proposed acquisition value
- Blackstone acquired PGP Glass for $765 million in 2020
- FY25 total income: Rs 4,278 crore, up 4.4% YoY
- FY25 EBITDA: Rs 1,430.2 crore, up 5.1% YoY
- 77% of sales from cosmetics and specialty spirits
What changed
Brookfield is in advanced talks to buy India-based packaging supplier PGP Glass from Blackstone for $1.3-$1.5 billion. PGP supplies glass packaging to cosmetics, food, spirits and pharmaceutical customers, with India operations and FY25 revenue of Rs 4,278 crore.
Why this matters
PGP Glass’s potential sale to Brookfield could strengthen investment behind a key packaging supplier to cosmetics, spirits, food and pharma retailers and brands.
What to watch
- Announcement of a binding agreement within the indicated two-to-three-week window
- Final enterprise value, financing structure, earn-out provisions and closing conditions
- Regulatory approvals and expected transaction close date
- Brookfield's stated capex plan for furnaces, decoration, pharma-grade lines and overseas capacity
- Any customer concentration disclosures, contract renewals or price-increase notifications