Eviosys, formerly Crown Aerosols, is a major supplier of metal packaging, including cans for cat food, tuna, and promotional products. With 6,300 employees across 44 manufacturing sites in 17 countries, the company generated €2.41 billion ($2.5 billion) in revenue in 2023. Eviosys also operates a research and development center in Oxfordshire, U.K., along with seven manufacturing plants in the country.
The acquisition integrates Eviosys into Sonoco’s consumer packaging division. The rebranding of Eviosys to the Sonoco name is set to unfold over the coming months.
Background of the Deal
Sonoco finalized its agreement to purchase Eviosys in June from private equity firm KPS Capital Partners and Crown Holdings, Inc., which retained a 20% stake in the company. The acquisition bolsters Sonoco’s offerings in food-grade and promotional metal packaging, aligning with its sustainable growth strategy.
Crown Holdings, which initially sold the business to KPS Capital in 2021, announced it will receive approximately $300 million from the sale.
Legal Representation
The deal featured a prominent roster of legal advisors. Freshfields Bruckhaus Deringer LLP represented Sonoco, led by M&A partners Damien Zoubek, Jonathan Zhou, and Joshua Ayal. KPS Capital and Eviosys were advised by Paul Weiss Rifkind Wharton & Garrison LLP, with M&A partners Angelo Bonvino and Michael Vogel leading the team.
Conclusion
The CMA’s clearance removes a key regulatory hurdle for Sonoco’s $3.9 billion acquisition of Eviosys, paving the way for Sonoco to expand its global footprint. The transaction underscores the growing demand for sustainable and innovative packaging solutions in consumer markets worldwide.
