Acquisition Roundup: Sonoco to buy Eviosys, Pacteon acquires Descon

SWITZERLAND – Sonoco, a global leader in sustainable packaging, has agreed to acquire Eviosys, Europe’s leading manufacturer of food cans, ends, and closures, from KPS Capital Partners for approximately US$3.9 billion.

This transaction accelerates Sonoco’s strategy to focus on and scale its core businesses, investing in high-return opportunities both organically and inorganically.

Sonoco will become the leading global metal food cans and aerosol packaging manufacturer post-transaction.

Both Sonoco’s metal business and Eviosys have significant commercial momentum. This acquisition enhances Sonoco’s ability to partner with customers, driving innovation and sustainability.

Eviosys is a leading global supplier of metal packaging. It produces food cans, ends, aerosol cans, metal closures, and promotional packaging for numerous consumer brands.

With around 6,300 employees across 44 manufacturing facilities in 17 countries, Eviosys boasts the largest metal food can manufacturing footprint in the EMEA region.

Sonoco estimates Eviosys’s 2024 revenues at approximately US$2.5 billion, with an adjusted EBITDA of around US$430 million.

Sonoco anticipates achieving over US$100 million in synergies from integrating Eviosys with its complementary metal can business.

Rodger Fuller, Sonoco’s Chief Operating Officer, will lead the integration, focusing on customer and supplier relationships, employee continuity, operational excellence, and synergy realization, blending Sonoco’s culture with Eviosys’s rich history.

Howard Coker, President and CEO of Sonoco, stated, “The acquisition of Eviosys establishes our global leadership in metal food can and aerosol packaging, marking an exciting milestone in our strategy to scale our core strategic metal packaging platform and position Sonoco for long-term value creation.

“Eviosys’s extensive global reach and attractive, growing customer base perfectly complements our existing metal packaging offering.

“Together, we are focused on unlocking new opportunities in attractive end-markets, providing our customers with a stronger value proposition, and generating strong returns for our shareholders.”

Pacteon acquires conveyor solutions provider Descon

Meanwhile, end-of-line packaging equipment provider Pacteon Group has announced the acquisition of North America-based Descon Integrated Conveyor Solutions.

Financial details of the transaction have not been disclosed. Descon will continue to operate as a subsidiary under Pacteon, retaining its brand, facilities, and leadership team.

This strategic integration maintains Descon’s strengths while fostering collaborative growth opportunities.

Pacteon emphasized its commitment to ensuring a smooth transition for both entities’ customers, employees, and partners.

This acquisition is a key step in Pacteon’s expansion strategy. It will bolster its product handling capabilities and align with its objective to become a comprehensive source for packaging automation equipment.

Both companies’ combined expertise and technologies are expected to increase value for their customer base and stakeholders.

Pacteon Group CEO Mike Odom commented, “This acquisition represents an exciting opportunity for us to provide more complete solutions for our customers to automate the supply of life’s products.

“Together, we will continue to innovate, deliver exceptional solutions for our customers, and differentiate ourselves in the packaging industry.”

Descon, which provides customized integrated conveyor solutions for the packaging industry, particularly North America’s food and beverage sector, is enthusiastic about the merger.

Descon chair and co-founder Dave Farquhar added, “We are excited to join forces with Pacteon and leverage our combined strengths to unlock new opportunities and drive growth. Together, we can deliver even greater value to our customers.”

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