Core Viewpoint - KPS Capital Partners has agreed to sell its portfolio company Eviosys to Sonoco Products Company for €3.615 billion (approximately $3.9 billion), with the transaction expected to close by the end of 2024, pending regulatory approvals and other customary conditions [1]. Group 1: Company Overview - Eviosys is a leading global supplier of metal packaging, producing food cans, aerosol cans, and metal closures, with the largest metal food can manufacturing footprint in the EMEA region, employing over 6,300 people across 44 facilities in 17 countries [6][12]. - The company has achieved significant sustainability milestones, with a product portfolio entirely made of infinitely recyclable metal packaging and has received an EcoVadis Platinum rating in 2023, placing it in the top 1% of all ranked companies [13]. Group 2: Transaction Details - The sale price of €3.615 billion includes an option for Sonoco to pay up to $200 million in Sonoco stock under certain conditions [1]. - The transaction is subject to completion of required works council consultations and regulatory approvals [1]. Group 3: KPS Capital Partners' Role - KPS created Eviosys by acquiring Crown Holdings' EMEA Food and Consumer Packaging Business in August 2021, retaining a 20% ownership interest in Eviosys [2]. - Under KPS's ownership, Eviosys underwent a transformation that resulted in approximately 50% improvement in profitability within three years, supported by nearly €225 million in capital expenditures [13][14]. Group 4: Management and Strategic Vision - The management team, led by CEO Tomás López, has been credited with executing a strategic vision that resulted in significant value creation during KPS's ownership [4][15]. - KPS's investment strategy focuses on enhancing the strategic position and competitiveness of its portfolio companies, which has been exemplified in Eviosys's transformation [3][14].

Transaction Value of Approximately $3.9 Billion Represents a Multiple of 7.3x 2024 Expected Adjusted EBITDA Including Synergies Sonoco will Host an Investor and Analyst Conference Call Today at 8:30 a.m. ET "The acquisition of Eviosys establishes our global leadership in metal food can and aerosol packaging, marking an exciting milestone in our strategy to scale our core strategic metal packaging platform and position Sonoco for long-term value creation," said Howard Coker, President and Chief Executive Off ...

Core Acquisition Details - Sonoco Products Company has announced an agreement to acquire Eviosys for approximately $3.9 billion, which is expected to be immediately accretive to adjusted EPS and over 25% accretive to 2025 expected adjusted EPS [1][6][18] - The acquisition is part of Sonoco's strategy to enhance its leadership in metal food can and aerosol packaging, expanding its total addressable market in metal packaging to approximately $25 billion globally [5][18] Financial and Operational Synergies - Sonoco anticipates achieving over $100 million in synergies from the integration of Eviosys within 24 months, focusing on operational excellence and customer relationships [2][21] - Eviosys is projected to generate approximately $2.5 billion in revenue and $430 million in adjusted EBITDA for 2024, with a 50% increase in EBITDA since 2021 [3][41] Strategic and Portfolio Transformation - The acquisition supports Sonoco's portfolio transformation strategy, which includes a divestiture plan aiming for at least $1 billion in proceeds to fund deleveraging and high-return capital investments [3][7][23] - Sonoco intends to maintain an investment-grade credit profile and plans to reduce net leverage below 3.0x within 24 months post-transaction [8][23] Sustainability and Market Position - The combined management teams of Sonoco and Eviosys are committed to enhancing sustainability initiatives, integrating sustainable solutions across regions and end markets [9][24] - The acquisition builds on Sonoco's previous acquisition of Ball Metalpack, further solidifying its position in the core metal packaging business [20]

HARTSVILLE, S.C., June 17, 2024 (GLOBE NEWSWIRE) -- Sonoco (NYSE: SON) today announced it will raise the price for all converted paperboard products by a minimum of 6 percent, effective with shipments in the United States and Canada, on or after July 10th, 2024. This includes tubes, cores, cones and protective packaging. Contact Information: Lisa Weeks Vice President of Investor Relations & Communications lisa.weeks@sonoco.com 843-383-7524 With net sales of approximately $6.8 billion in 2023, Sonoco has app ...

HARTSVILLE, S.C., June 17, 2024 (GLOBE NEWSWIRE) -- Sonoco (NYSE: SON) today announced it will raise the price for all converted paperboard products by a minimum of 6 percent, effective with shipments in the United States and Canada, on or after July 10th, 2024. This includes tubes, cores, cones and protective packaging. Contact Information: Lisa Weeks Vice President of Investor Relations & Communications lisa.weeks@sonoco.com 843-383-7524 With net sales of approximately $6.8 billion in 2023, Sonoco has app ...

HARTSVILLE, S.C., June 10, 2024 (GLOBE NEWSWIRE) -- Sonoco (NYSE: SON) today announced it is implementing a $70 per ton price increase for all grades of uncoated recycled paperboard (URB) in the United States and Canada, effective with shipments beginning July 10, 2024. This price action is necessary to offset increased input costs. About Sonoco Contact Information: Lisa Weeks Vice President of Investor Relations & Communications lisa.weeks@sonoco.com 843-383-7524 With net sales of approximately $6.8 billio ...

HARTSVILLE, S.C., June 10, 2024 (GLOBE NEWSWIRE) -- Sonoco (NYSE: SON) today announced it is implementing a $70 per ton price increase for all grades of uncoated recycled paperboard (URB) in the United States and Canada, effective with shipments beginning July 10, 2024. This price action is necessary to offset increased input costs. Contact Information: Lisa Weeks Vice President of Investor Relations & Communications lisa.weeks@sonoco.com 843-383-7524 About Sonoco With net sales of approximately $6.8 billio ...

Core Insights - Sonoco-Alcore S.a.r.l. will increase prices by 7% on all tube and core grades in the EMEA regions due to ongoing inflationary pressures affecting its cost base, effective from June 15, 2024 [1][2] - The company is experiencing rising costs across all sectors of operations and supply chain, particularly for core board, necessitating the price increase as it can no longer absorb these costs [2] - Sonoco Alcore operates 19 tubes and core plants and five paperboard mills in Europe, including its largest uncoated recycled paperboard mill located in Cirie, Italy [3] Company Overview - Sonoco reported net sales of approximately $6.8 billion in 2023 and employs around 22,000 people across more than 300 operations globally [4] - The company is committed to sustainability and has been recognized as one of America's Most Responsible Companies by Newsweek [4]

BRUSSELS, Belgium, June 04, 2024 (GLOBE NEWSWIRE) -- Following the announcement of 25th March 2024, Sonoco (NYSE: SON) today announced it is implementing a further price increase as input costs have continued to rise beyond our initial estimation. "We have already successfully implemented a second increase in the Italian market and this will now be applied in the rest of Europe at €25/ton, valid for all shipments after 1st July, 2024. The economic climate continues to be challenging making this action neces ...

Sonoco Products Company (SON) announced that it opened a multimillion-dollar Metal Packaging Technical & Engineering Center in Columbus, OH. The move marks yet another milestone in the company's quest of excellence and dedication to high-quality, precision-manufactured metal packaging. The new state-of-the-art center is located at 2850 Charter Street. This offers a concentrated center for providing design support, process development, technical services, engineering, and training. The 11,000-square-foot cen ...