Sonoco struck a deal worth approximately $3.9bn with former Eviosys owner KPS Capital Partners in July 2024, with the goal of creating a “leading metal food and aerosol can manufacturer worldwide”.
Eviosys specialises in the production of food cans, ends and closures, and operates 44 manufacturing facilities across 17 countries, including an R&D centre in Wantage, Oxfordshire.
However, the transaction has attracted interest from the Competition and Markets Authority (CMA) in the UK, which launched a Phase 1 investigation into the deal on 24 October.
This inquiry is ongoing with a decision deadline date set for 19 December, at which point the case can either be dropped or moved to Phase 2 depending on the deal’s likelihood to impact competition within the metal packaging market.
Nonetheless, Sonoco has continued setting out plans for the transition of Eviosys into its consumer packaging segment over the coming months.
Continuity at Eviosys
Eviosys will continue to be led by current CEO Tomás López, who described the deal as marking the beginning of new chapter for the firm.
“Being part of Sonoco will allow us to extend our innovative packaging solutions and world-class manufacturing quality to a broader market,” said López.
“We remain dedicated to our customers’ success and are excited to build on this foundation as we continue striving for excellence.”
In 2023, Food Manufacture visited the Eviosys R&D centre in Wantage to mark its relaunch after the completion of a major investment in the site.
Sonoco ‘excited to begin’
Howard Coker, president and CEO of Sonoco, greeted the combination as the creation of a “global leader in metal packaging”.
“We are excited to begin executing our integration plans and welcome the incredibly talented team at Eviosys,” added Coker.
“We see new and significant opportunities to unlock additional capabilities and end-markets in this larger, scaled business and look forward to investing in our combined product platform as we meet the growing demand for innovative solutions from our customers.”
