{"id":792225,"date":"2024-12-04T04:03:12","date_gmt":"2024-12-04T09:03:12","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/sonoco-completes-acquisition-of-eviosys\/"},"modified":"2024-12-04T04:03:12","modified_gmt":"2024-12-04T09:03:12","slug":"sonoco-completes-acquisition-of-eviosys","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/sonoco-completes-acquisition-of-eviosys\/","title":{"rendered":"Sonoco Completes Acquisition of Eviosys"},"content":{"rendered":"
\n

\n Creates a Global Leader in Metal Food and Aerosol Can Manufacturing<\/em>\n <\/p>\n

\n Advances Sonoco\u2019s Portfolio Transformation Strategy <\/em>\n <\/p>\n

HARTSVILLE, S.C., Dec. 04, 2024 (GLOBE NEWSWIRE) — Sonoco Products Company (\u201cSonoco\u201d or the \u201cCompany\u201d) (NYSE: SON), a global leader in high-value sustainable packaging, today announced the close of its acquisition of Eviosys, Europe\u2019s leading food cans, ends and closures manufacturer, from KPS Capital Partners, LP (\u201cKPS\u201d).<\/p>\n

The transaction advances Sonoco\u2019s portfolio transformation strategy to simplify and realign its portfolio and position the Company for long-term growth and value creation. Sonoco announced its intent to acquire Eviosys on June 24, 2024. Following the integration process, Eviosys will transition to the Sonoco brand over the coming months and will operate under Sonoco\u2019s Consumer Packaging segment.\u00a0<\/p>\n

\n Forward-Looking Statements <\/strong>
\n
Certain statements made in this communication with respect to the transaction are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as \u201cassume\u201d, \u201cbelieve\u201d, \u201ccommitted\u201d, \u201ccontinue\u201d, \u201ccould\u201d, \u201cestimate\u201d, \u201cexpect\u201d, \u201cfocused\u201d, \u201cfuture\u201d, \u201cguidance\u201d, \u201clikely\u201d, \u201cmay\u201d, \u201congoing\u201d, \u201coutlook\u201d, \u201cpotential\u201d, \u201cseek\u201d, \u201cstrategy\u201d, \u201cwill\u201d, or the negative thereof, and similar expressions identify forward-looking statements.<\/p>\n

Forward-looking statements contained in this communication are made based on current expectations, estimates and projections about the Company\u2019s industry, management\u2019s beliefs and certain assumptions made by management. Such information includes, without limitation, discussions as to guidance and other estimates, perceived opportunities, expectations, beliefs, plans, strategies, goals and objectives concerning the Company\u2019s future financial and operating performance. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict.<\/p>\n

Therefore, actual results may differ materially from those expressed or forecasted in such forward-looking statements. Risks and uncertainties include, among other things: risks related to the transaction, including the ability to retain key employees and successfully integrate Eviosys; the Company\u2019s ability to realize estimated cost savings, synergies or other anticipated benefits of the transaction, or that such benefits may take longer to realize than expected; diversion of management\u2019s attention; the potential impact of the consummation of the transaction on relationships with clients and other third parties\u037e the operation of new manufacturing capabilities\u037e the availability, transportation and pricing of raw materials, energy and transportation, including the impact of potential changes in tariffs or sanctions and escalating trade wars, and the impact of war, general regional instability and other geopolitical tensions (such as the ongoing conflict between Russia and Ukraine as well as the economic sanctions related thereto, and the ongoing conflict in Israel and Gaza), and the Company\u2019s ability to pass raw material, energy and transportation price increases and surcharges through to customers or otherwise manage these commodity pricing risks\u037e the costs of labor\u037e the effects of inflation, fluctuations in consumer demand, volume softness, and other macroeconomic factors on the Company and the industries in which it operates and that it serves\u037e the Company\u2019s ability to meet its environmental and sustainability goals, including with respect to greenhouse gas emissions\u037e risks related to obtaining regulatory clearance under the antitrust laws in the UK with respect to the transaction; and to meet other social and governance goals, including challenges in implementation thereof\u037e and the other risks, uncertainties and assumptions discussed in the Company\u2019s filings with the Securities and Exchange Commission, including its most recent reports on Forms 10-K and 10-Q, particularly under the heading \u201cRisk Factors\u201d. Except as required by applicable law, the Company undertakes no obligation to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events discussed herein might not occur.<\/p>\n

\n About\u00a0Sonoco<\/strong>
\n
With net sales of approximately\u00a0$6.8 billion\u00a0in 2023,\u00a0Sonoco\u00a0has approximately 22,000 employees working in more than 300 operations around the world, serving some of the world\u2019s best-known brands. With our corporate purpose of\u00a0Better Packaging. Better Life.,\u00a0Sonoco\u00a0is committed to creating sustainable products and a better world for our customers, employees, and communities.\u00a0Sonoco\u00a0was named one of America\u2019s Most Responsible Companies by Newsweek. For more information on the Company, visit our website at\u00a0www.sonoco.com<\/a>.<\/p>\n

\n About Eviosys<\/strong>
\n
Eviosys is a leading global supplier of metal packaging, producing food cans and ends, aerosol cans, metal closures and promotional packaging to preserve the products of hundreds of consumer brands. Eviosys has the largest manufacturing footprint in\u00a0Europe, the\u00a0Middle East\u00a0and\u00a0Africa\u00a0(EMEA) in the industry with 6,300 employees in 44\u00a0manufacturing facilities across 17 countries in the region. In 2023, it generated \u20ac2.41 billion in revenue. Eviosys was a portfolio company of\u00a0KPS prior to its acquisition by Sonoco.<\/p>\n

\n Contact Information<\/strong>\n <\/p>\n

\n Investors<\/strong>
\n
Lisa Weeks
Vice President of Investor Relations\u00a0& Communications
lisa.weeks@sonoco.com<\/a>
843-383-7524<\/p>\n

\n Media<\/strong>
\n
FGS Global
Leah Polito\u00a0\/\u00a0Jamie Baird
Sonoco@fgsglobal.com<\/a><\/p>\n

\"\"
\n
\n \"\"\n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

Creates a Global Leader in Metal Food and Aerosol Can Manufacturing Advances Sonoco\u2019s Portfolio Transformation Strategy HARTSVILLE, S.C., Dec. 04, 2024 (GLOBE NEWSWIRE) — Sonoco Products Company (\u201cSonoco\u201d or the \u201cCompany\u201d) (NYSE: SON), a global leader in high-value sustainable packaging, today announced the close of its acquisition of Eviosys, Europe\u2019s leading food cans, ends and closures manufacturer, from KPS Capital Partners, LP (\u201cKPS\u201d). The transaction advances Sonoco\u2019s portfolio transformation strategy to simplify and realign its portfolio and position the Company for long-term growth and value creation. Sonoco announced its intent to acquire Eviosys on June 24, 2024. Following the integration process, Eviosys will transition to the Sonoco brand over the coming months and will operate under Sonoco\u2019s Consumer Packaging segment.\u00a0 … <\/p>\n

Continue reading “Sonoco Completes Acquisition of Eviosys”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-792225","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nSonoco Completes Acquisition of Eviosys - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/sonoco-completes-acquisition-of-eviosys\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sonoco Completes Acquisition of Eviosys - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Creates a Global Leader in Metal Food and Aerosol Can Manufacturing Advances Sonoco\u2019s Portfolio Transformation Strategy HARTSVILLE, S.C., Dec. 04, 2024 (GLOBE NEWSWIRE) — Sonoco Products Company (\u201cSonoco\u201d or the \u201cCompany\u201d) (NYSE: SON), a global leader in high-value sustainable packaging, today announced the close of its acquisition of Eviosys, Europe\u2019s leading food cans, ends and closures manufacturer, from KPS Capital Partners, LP (\u201cKPS\u201d). The transaction advances Sonoco\u2019s portfolio transformation strategy to simplify and realign its portfolio and position the Company for long-term growth and value creation. Sonoco announced its intent to acquire Eviosys on June 24, 2024. 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