Leading EUROPEAN PACKAGING Organization TO Become Impartial Enterprise
CROWN HOLDINGS, INC. TO Retain 20% Possession Fascination
NEW Firm TO Focus ON Advancement IN Foods AND Consumer Items Marketplaces
NEW YORK, April 8, 2021 /PRNewswire/ — KPS Funds Associates, LP (“KPS”) now introduced that it has signed a definitive arrangement to get the Europe, Middle East and Africa food, aerosol and advertising packaging organization (the “EMEA Food items and Consumer Packaging Company” or the “Firm”) from Crown Holdings, Inc. (NYSE: CCK, “Crown”) for €2.25 billion (about $2.7 billion). Crown will keep 20% possession of the Firm. The transaction is anticipated to near in the 3rd quarter of 2021 and is issue to customary closing problems and approvals.
The EMEA Food stuff and Buyer Packaging Business is the premier maker of metal and aluminum meals packaging in Europe and is a major maker of aerosol and marketing packaging. The Corporation is crucial to the European foodstuff offer chain and has hundreds of global and regional meals and buyer goods consumers. The Firm’s solutions are very sustainable and aid to reduce meals squander and travel higher fees of recycling. The EMEA Foodstuff and Consumer Packaging Organization has around 6,300 workers throughout 44 manufacturing services in Europe, the Center East and Africa, and generates once-a-year profits of roughly €2. billion.
Michael Psaros, Co-Founder and Co-Handling Associate of KPS, said, “We are fired up to purchase 1 of the most significant metallic packaging businesses in Europe. The measurement and scale of the organization, the breadth of its solutions and its critical foods protection technologies and procedure disciplines made in excess of decades, coupled with rising conclude-marketplaces, are the basis of a great financial commitment system. We thank Mr. Donahue and Crown for their confidence in KPS and have confidence in in our stewardship of the remarkable company they have designed. We look ahead to performing constructively with all of the business’s stakeholders to create a vivid and flourishing new firm. KPS will leverage its decades of global producing experience to produce an entrepreneurial tradition centered on innovation and constant improvement, while furnishing the economical methods to invest in professional and operational excellence and business main customer services.”
Timothy Donahue, Main Executive Officer of Crown, stated, “We are extremely happy that the European Tinplate business enterprise will have a strong owner in KPS Cash Partners to help foreseeable future lucrative growth and innovation initiatives. European clients and buyers alike have lengthy embraced metal packaging, valuing the quality product security and flavor preservation that it offers. We are psyched to keep a minority stake in the company along with KPS as Crown shareholders will benefit from the KPS team and its monitor file of owning producing businesses and producing huge value.”
Rothschild & Co is performing as lead monetary advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as lawful counsel to KPS and its affiliate marketers. Barclays and UBS are also acting as fiscal advisors to KPS and its affiliates. Personal debt financing to help the transaction is getting led by Barclays and Deutsche Bank along with BNP Paribas, Credit rating Suisse and UBS Financial commitment Lender.
About the EMEA Food items and Shopper Packaging Enterprise
The EMEA Meals and Purchaser Packaging Business enterprise is the largest maker of metal and aluminum foodstuff packaging in Europe and is a primary producer of aerosol and marketing packaging. The Company is significant to the European foods provide chain, with hundreds of global and regional foods and client products and solutions customers. The Company’s merchandise are extremely sustainable, assisting to avoid foods waste and generate large charges of recycling. With roughly 6,300 staff members throughout 44 producing facilities in Europe, the Middle East and Africa, the EMEA Meals and Client Packaging Enterprise generates annual earnings of close to €2. billion.
About Crown Holdings, Inc.
Crown Holdings, Inc., as a result of its subsidiaries, is a major world provider of rigid packaging items to client advertising and marketing organizations, as nicely as transit and protecting packaging products and solutions, equipment and companies to a wide vary of conclude markets. Entire world headquarters are positioned in Yardley, Pennsylvania. For extra information, take a look at www.crowncork.com.
About KPS Cash Companions
KPS, by its affiliated management entities, is the supervisor of the KPS Particular Circumstances Money, a family members of expenditure resources with around $12.3 billion of belongings underneath management (as of December 31, 2020). For practically 3 decades, the Companions of KPS have labored solely to realize sizeable capital appreciation by making controlling fairness investments in manufacturing and industrial organizations throughout a diverse array of industries, including simple components, branded customer, health care and luxurious items, automotive parts, capital products and standard producing. KPS results in worth for its traders by operating constructively with gifted management groups to make corporations greater, and generates financial commitment returns by structurally bettering the strategic situation, competitiveness and profitability of its portfolio corporations, somewhat than primarily relying on money leverage. The KPS Funds’ portfolio organizations have aggregate once-a-year revenues of about $10.6 billion, function 159 manufacturing amenities in 22 international locations, and have somewhere around 34,000 staff members, specifically and through joint ventures around the globe. The KPS expense system and portfolio corporations are explained in detail at www.kpsfund.com.
Supply KPS Money Associates, LP
