# Silgan and American Industrial Partners to combine with Trivium in $7.3B metal packaging deal

Silgan, Trivium and American Industrial Partners announced a transaction combining Silgan's metal containers and flat cap closures businesses with Trivium into Silgan MCC, with Trivium valued at about $3.4 billion enterprise value. Silgan keeps 60% ownership and receives about $2.3 billion in cash.

- Type: Acquisition
- Announced: 2026-10-19
- Value: $3.40B
- Status: announced
- Products: metal containers, food and beverage flat cap closures, metal packaging, dispensing solutions
- Sectors: [Packaging](https://endata.com/sectors/packaging.md)

## Companies

- [Silgan Holdings](https://endata.com/companies/790.md)
- [Silgan Holdings](https://endata.com/companies/790.md) (acquirer)
- [Trivium Packaging](https://endata.com/companies/2160.md) (target)
- [Ardagh Group](https://endata.com/companies/2162.md) (partner)
- [Ontario Teachers' Pension Plan](https://endata.com/companies/2614.md) (partner)
- [American Industrial Partners](https://endata.com/companies/7612.md) (investor)
- [American Industrial Partners](https://endata.com/companies/7612.md) (partner)
- [Weil, Gotshal & Manges](https://endata.com/companies/14818.md) (partner)

## Sources

- [silganholdings.com](https://www.silganholdings.com/news/news-details/2026/Silgan-Announces-Strategic-Portfolio-Acceleration-Establishes-Partnership-to-Acquire-Trivium/default.aspx), 2026-10-19: "The all-cash acquisition values Trivium at an enterprise value of approximately $3.4 billion, representing 7.1x last twelve months Adjusted EBITDA."
- [triviumpackaging.com](https://www.triviumpackaging.com/news-media/news-stories/important-business-update), 2026-10-19: "Today, Trivium's shareholders reached an agreement on a proposed transaction that will combine Trivium with Silgan Holdings Inc's metal packaging operations."
- [nasdaq.com](https://www.nasdaq.com/press-release/silgan-announces-strategic-portfolio-acceleration-establishes-partnership-acquire), 2026-10-19: "The all-cash acquisition values Trivium at an enterprise value of approximately $3.4 billion, representing 7.1x last twelve months ("LTM") Adjusted EBITDA."
- [wsj.com](https://www.wsj.com/business/deals/silgan-to-combine-with-trivium-packaging-in-3-4-billion-deal-bf732879), 2026-10-19: "The all-cash deal values Trivium at about $3.4 billion, including debt, the companies said Monday."
- [sidley.com](https://www.sidley.com/en/newslanding/newsannouncements/2026/10/sidley-represents-silgan-and-aip-to-create-diversified-global-metal-packaging-business), 2026-10-19: "The all-cash transaction values Trivium at approximately US$3.4 billion."
- [in-supply.co.uk](https://in-supply.co.uk/silgan-and-aip-agree-proposed-trivium-packaging-combination/), 2026-10-20: "The acquisition values Trivium at approximately $3.4 billion on an enterprise-value basis."
- [weil.com](https://www.weil.com/articles/weil-advises-otpp-and-trivium-packaging-in-3-point-4-b-acquisition), 2026-10-21: "Trivium's proposed $3.4 billion acquisition by Silgan Holdings Inc. and funds affiliated with American Industrial Partners"
- [jenner.com](https://www.jenner.com/en/news-insights/news/jenner-and-block-advises-silgan-holdings-inc-on-establishing-partnership-with-american-industrial-partners-to-acquire-trivium-packaging-for-dollar34-billion), 2026-10-21: "MetalCo is acquiring all of the equity interests in Trivium for approximately $3.4 billion and has also obtained fully committed debt financing."
- [packaging-gateway.com](https://www.packaging-gateway.com/news/silgan-aip-buy-trivium-packaging/), 2026-10-21: "Silgan will retain a 60% controlling interest while AIP will hold 40% following an equity injection of approximately $1bn."
- [news.metal.com](https://news.metal.com/newscontent/104177134-silgan-to-acquire-trivium-for-34b-forming-global-aluminum-packaging-giant), 2026-10-26: "Silgan Holdings has reached an all-cash acquisition agreement with a fund under American Industrial Partners (AIP) to acquire Trivium Packaging for approximately $3.4 billion."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.