BROOMFIELD, Colo. (AP) -- Packaging company Ball Corp. said Wednesday it has agreed to buy the European aluminum can and bottle maker Aerocan SAS.
Ball said the deal was worth about 221 million euros, or about $294.6 million, including debt and other liabilities. The company didn't immediately reply to an e-mail and a call seeking the price excluding assumed debt and liabilities.
Ball said the company makes aerosol cans, bottles and aluminum slugs for the pharmaceutical, beverage and food industries. It has factories in the Czech Republic, France and the United Kingdom.
Ball makes packaging for beverage, food and household products customers. It said in a statement the acquisition allows it to "enter a growing segment of the metal packaging world where we can broaden our market development efforts into a new customer base."
The deal is expected to close in the first quarter of 2011.
Ball Corp. shares fell 62 cents to $67.36 in afternoon trading Wednesday.