In a significant move within the packaging industry, Sonoco Products Co. has announced its agreement to acquire Eviosys, a European packaging firm specializing in cans and other related products. The acquisition is valued at approximately $3.9 billion. The deal will position Sonoco as a leading global player in the metal food can and aerosol packaging markets.
Eviosys, which was established in 2021 when KPS Capital Partners purchased the Europe, Middle East, and Africa operations from Crown Holdings Inc., currently operates 44 manufacturing facilities across 17 countries and employs about 6,300 people. Sonoco projects that Eviosys will generate revenues of approximately $2.5 billion in 2024.
Sonoco highlighted that the acquisition aligns with its strategic growth plans, aiming to leverage Eviosys’ established market presence in Europe to bolster its global operations.
For more detailed information, you can read the full report by Bloomberg Law here.