Sonoco to Acquire Eviosys, Creating The World’s Leading Metal Food Can and Aerosol Packaging Platform

Sonoco Products Company (“Sonoco” or the “Company”) (NYSE: SON), a global leader in high-value sustainable packaging, today announced it has entered into an agreement to acquire Eviosys, Europe’s leading food cans, ends and closures manufacturer, from KPS Capital Partners, LP (“KPS”) for approximately $3.9 billion (the “Transaction”).

The Transaction accelerates Sonoco’s strategy to focus on and scale its core businesses and invest in high return opportunities, both organically and inorganically. Following the Transaction, Sonoco will be the leading metal food can and aerosol packaging manufacturer globally. Both Sonoco’s metal business and Eviosys have meaningful commercial momentum and the Transaction facilitates Sonoco’s ability to partner with customers and lead with innovation and sustainability.

Eviosys is a leading global supplier of metal packaging, producing food cans and ends, aerosol cans, metal closures and promotional packaging to preserve the products of hundreds of consumer brands. Eviosys has the largest metal food can manufacturing footprint in the EMEA region, with approximately 6,300 employees in 44 manufacturing facilities across 17 countries. Sonoco estimates Eviosys’s 2024 revenues will be approximately $2.5 billion and its 2024 adjusted EBITDA will be approximately $430 million. Eviosys has meaningful commercial and operational momentum and has increased EBITDA by approximately 50% since 2021.

Sonoco expects to achieve over $100 million of synergies from the integration of Eviosys with Sonoco’s complementary metal can business. Rodger Fuller, Sonoco’s Chief Operating Officer, will lead the integration with a focus on customer and supplier relationships, employee continuity, operational excellence, and synergy realization, while combining the best of Sonoco’s culture with the rich history and heritage of Eviosys.
https://investor.sonoco.com/news-releases/news-release-details/sonoco-acquire-eviosys-creating-worlds-leading-metal-food-can

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