KPS Cash Partners to Get EMEA Food and Customer Packaging Company from Crown Holdings
4 min readForemost EUROPEAN PACKAGING Small business TO Develop into Unbiased Firm
CROWN HOLDINGS, INC. TO Retain 20% Possession Curiosity
NEW Corporation TO Aim ON Development IN Meals AND Consumer Items Marketplaces
NEW YORK, April 8, 2021 /PRNewswire/ — KPS Capital Associates, LP (“KPS”) today introduced that it has signed a definitive settlement to acquire the Europe, Center East and Africa food stuff, aerosol and advertising packaging enterprise (the “EMEA Foodstuff and Consumer Packaging Business” or the “Business”) from Crown Holdings, Inc. (NYSE: CCK, “Crown”) for €2.25 billion (somewhere around $2.7 billion). Crown will retain 20% ownership of the Company. The transaction is expected to close in the third quarter of 2021 and is issue to customary closing conditions and approvals.
The EMEA Food stuff and Consumer Packaging Small business is the greatest producer of metal and aluminum food stuff packaging in Europe and is a primary manufacturer of aerosol and promotional packaging. The Firm is significant to the European foods provide chain and has hundreds of world and regional foods and client goods consumers. The Company’s solutions are highly sustainable and enable to avoid meals squander and push larger rates of recycling. The EMEA Food and Consumer Packaging Business enterprise has roughly 6,300 staff throughout 44 manufacturing services in Europe, the Center East and Africa, and generates yearly revenue of close to €2. billion.
Michael Psaros, Co-Founder and Co-Taking care of Partner of KPS, mentioned, “We are excited to purchase a person of the biggest metal packaging enterprises in Europe. The dimensions and scale of the business, the breadth of its products and its vital food safety know-how and procedure disciplines produced about many years, coupled with growing conclude-marketplaces, are the basis of a huge financial commitment system. We thank Mr. Donahue and Crown for their assurance in KPS and rely on in our stewardship of the remarkable small business they have built. We seem forward to working constructively with all of the business’s stakeholders to construct a vivid and flourishing new firm. KPS will leverage its decades of world wide producing experience to develop an entrepreneurial culture centered on innovation and continuous enhancement, when supplying the economical sources to make investments in industrial and operational excellence and industry leading buyer services.”
Timothy Donahue, Main Government Officer of Crown, reported, “We are pretty happy that the European Tinplate company will have a solid owner in KPS Capital Partners to guidance future worthwhile growth and innovation initiatives. European clients and individuals alike have lengthy embraced steel packaging, valuing the high quality product security and taste preservation that it offers. We are enthusiastic to retain a minority stake in the company along with KPS as Crown shareholders will reward from the KPS team and its observe history of owning production organizations and producing huge value.”
Rothschild & Co is acting as lead monetary advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as authorized counsel to KPS and its affiliate marketers. Barclays and UBS are also performing as fiscal advisors to KPS and its affiliates. Financial debt funding to aid the transaction is currently being led by Barclays and Deutsche Lender together with BNP Paribas, Credit score Suisse and UBS Investment Financial institution.
About the EMEA Food items and Customer Packaging Organization
The EMEA Foodstuff and Purchaser Packaging Business enterprise is the most significant maker of metal and aluminum meals packaging in Europe and is a primary manufacturer of aerosol and advertising packaging. The Corporation is important to the European meals provide chain, with hundreds of world-wide and regional food and consumer solutions prospects. The Firm’s goods are remarkably sustainable, encouraging to avert foods waste and drive large costs of recycling. With around 6,300 staff members across 44 production services in Europe, the Middle East and Africa, the EMEA Foods and Shopper Packaging Business generates once-a-year income of close to €2. billion.
About Crown Holdings, Inc.
Crown Holdings, Inc., by means of its subsidiaries, is a leading global provider of rigid packaging goods to purchaser internet marketing corporations, as nicely as transit and protective packaging products, machines and companies to a wide array of conclude marketplaces. Earth headquarters are situated in Yardley, Pennsylvania. For far more information and facts, check out www.crowncork.com.
About KPS Capital Associates
KPS, through its affiliated management entities, is the supervisor of the KPS Exclusive Conditions Resources, a loved ones of investment cash with above $12.3 billion of assets below administration (as of December 31, 2020). For approximately three a long time, the Companions of KPS have worked exclusively to recognize considerable capital appreciation by producing controlling fairness investments in manufacturing and industrial businesses across a assorted array of industries, including basic resources, branded buyer, healthcare and luxury merchandise, automotive pieces, cash tools and standard production. KPS results in price for its buyers by doing work constructively with proficient administration teams to make businesses improved, and generates financial commitment returns by structurally improving upon the strategic place, competitiveness and profitability of its portfolio businesses, alternatively than primarily relying on monetary leverage. The KPS Funds’ portfolio organizations have combination annual revenues of close to $10.6 billion, run 159 producing amenities in 22 nations, and have about 34,000 staff members, directly and by joint ventures worldwide. The KPS investment method and portfolio firms are described in depth at www.kpsfund.com.
Supply KPS Cash Associates, LP
