Sun Capital Affiliate Buys Vitro America Assets
June 2, 2011
American Glass Enterprises purchased the assets of Vitro America
LLC and three other indirect Vitro subsidiaries, including Binswanger
Glass, through an auction yesterday in Dallas. The purchase price
was around $61 million.
American Glass Enterprises is an affiliate of Sun Capital.
The bidders during yesterday's auction also included Grey Mountain,
a private equity firm in Colorado that will now serve as the back-up
bidder, and VI Industries, an affiliate of the Mexico-based steel
Before the sale is complete, Vitro America in consultation with
the creditors committee must seek approval from the U.S. Bankruptcy
Court for the District of North Texas.
Stay tuned to glassBYTEs.com for more details as they emerge.
Need more info and analysis about the issues?
Subscribe to AGRR Magazine.