A Phase 1 investigation into the deal was launched by the CMA on 24 October in order to assess whether the merging of the two businesses would reduce competition within the UK packaging market.
Interested parties were invited to comment in order to aid the investigation between 24 October and 7 November, but on 12 December the CMA announced that it would not be pursuing the inquiry further.
“The CMA has cleared the completed acquisition by Sonoco Products Company of the Eviosys group, from entities managed by KPS Capital Partners LP and Crown Holdings, Inc,” it said.
Full details of the decision are yet to be published by the CMA but will be made available on its website shortly.
The deal was agreed between Sonoco and former Eviosys owner KPS Capital in July of this year for $3.9bn, and was formally was formally completed earlier this month with the investigation still in process.
However, Sonoco can now push ahead with 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.
Food Manufacture visited the facility in Wantage in November of last year and spoke to R&D director David Hall to learn more about the firm’s efforts to become the food industry’s sustainable packaging partner of choice.
World-class manufacturing
Tomás López, who will remain Eviosys CEO moving forward, commented: “Being part of Sonoco will allow us to extend our innovative packaging solutions and world-class manufacturing quality to a broader market.
“We remain dedicated to our customers’ success and are excited to build on this foundation as we continue striving for excellence.”
Meanwhile, president and CEO of Sonoco Howard Coker added: “We are excited to begin executing our integration plans and welcome the incredibly talented team at Eviosys.
“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.”
