(Greendale, Ind.) - The owners of a local factory are looking to sell its parent company.
Anchor Glass Container Corp. is controlled by Wayzata Investment Partners. Anchor Glass – North America’s third-largest glass container producer – owns eight factories in the United States, including one in Greendale, Ind.
According to Bloomberg News, a person with knowledge of the situation said Wayzata is seeking buyers for Anchor Glass with a price reported to be near $1 billion.
The report said Anchor has annual earnings before interest, taxes, depreciation and amortization of about $150 million and may fetch six or seven times that amount in a sale.
Anchor Glass has been through three bankruptcies since 1996.
About 2,900 people are employed by Anchor Glass company-wide.