H.I.G.-backed Nadir buys Cristar

Nadir Figueiredo, a portfolio company of H.I.G. Capital, has acquired Colombia-based Cristar, a glass tableware company. The seller is Owens Illinois. No financial terms were disclosed.

PRESS RELEASE

RIO DE JANEIRO–(BUSINESS WIRE)–H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $48 billion of equity capital under management, announced that its portfolio company, Nadir Figueiredo S.A. (“Nadir”) has completed the acquisition of Cristar Tabletop S.A.S. (“Cristar” or the “Company”) from Owens Illinois, a U.S.-listed company. The two companies combined generated revenues in excess of $252 million in 2021.

Based in Colombia, Cristar is the leading glass tableware company in the Andean region, holding a comprehensive drinkware portfolio of over 2,000 SKUs and modern facilities. The Company has an export-oriented sales strategy, serving over 40 countries worldwide.
Combined, Nadir and Cristar have the largest production capacity in Latin America and one of the most comprehensive glass tableware portfolios in the world. With well-known consumer brands (e.g., Copo Americano, Marinex, Nadir and Cristar) and long-term relationships within its main distribution channels, the combined company is present in virtually all Latin-American households and well positioned to capture growth opportunities in the region. Cristar’s acquisition also accelerates Nadir’s internationalization, strengthening the Company’s footprint in the Andean Region, the U.S., and European countries.

Thiago Miskulin, Managing Director of H.I.G. Brazil and Latin America, said: “We are very pleased with the acquisition of Cristar by Nadir. The two companies are highly complementary and together become a leading player in the global glass tableware market.”

Patricio Figueiredo, CEO of Nadir, added: “Cristar’s acquisition marks a new growth chapter for Nadir, allowing us to access and grow in new important markets. We are very excited to work with Carlos Tamayo and his team to meet the growing global demand for glass tableware.”

About Nadir Figueiredo
Founded in 1912 in the state of São Paulo, Nadir is the largest glass tableware company in Brazil and one of the largest in the world. The Company has a complete product portfolio of more than 2,000 SKUs while reaching approximately 1,200 clients in Brazil and abroad. With a 110-year success story in the Brazilian market, the Company has a long-standing relationship and well-known reputation with distributors and retailers in the food & beverage industry and with households across all Brazilian states. For more information visit www.nadirfigueiredo.com.br.