Anchor Glass Container Corporation, one of the largest glass packaging manufacturers in the United States, has successfully completed a comprehensive recapitalization aimed at strengthening its balance sheet and accelerating investment in production modernization.

The transaction reduced the company’s debt by more than 60% and brought in $100 million in new equity capital. The funds will be used to modernize Anchor Glass’s manufacturing network, including furnace rebuilds and equipment upgrades across its U.S. plants.

According to company plans, Anchor Glass expects to invest over $1 billion by 2030 in expanding capacity, improving energy efficiency, and supporting long-term sustainable growth.

The recapitalization involved key financial partners Canyon Capital Advisors, Millstreet Capital Management, and UBS O’Connor. Legal counsel for the lenders was provided by White & Case LLP, which noted that the new capital structure “positions Anchor Glass for its next phase of strategic growth with a more resilient financial foundation.”

Anchor Glass emphasized that the recapitalization will allow the company to enhance competitiveness, expand its product portfolio, and invest further in environmentally responsible glass manufacturing technologies.