Jones Day advised Ferro Corporation on its acquisition of Spain-based industrial manufacturer Pinturas Benicarló.
The transaction was valued at €17 million, according to Mergermarket.
Pinturas serves some of the largest international glass manufacturers and processors. The primary use for Pinturas’ paints is for the decoration of container glasses for perfume and cosmetic, food and beverage and other consumer products.
Pinturas sales, for the full-year of 2016, are expected to total approximately €7.5 million.
With the acquisition, Ferro is increasing its full-year 2016 adjusted earnings guidance to $0.95 – $1.00 per diluted share.
Pinturas was advised by JJL Abogados on the deal.