KPS CAPITAL PARTNERS TO SELL EVIOSYS TO SONOCO FOR €3.615 BILLION

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].