Ball to acquire majority stake in European beverage can manufacturer Benepack

BELGIUM – Ball Corporation (NYSE: BALL) has entered into definitive agreements to acquire a majority stake in Benepack’s beverage can manufacturing businesses in Europe, strengthening its regional footprint as demand for aluminium beverage packaging continues to grow.

Under the terms of the transaction, Ball will acquire an 80% stake in Benepack’s operations for an estimated €184 million (US$217.65m).

The remaining 20% interest will be retained by existing Benepack shareholders. The acquisition covers two beverage can production facilities located in Belgium and Hungary, which serve both international and local customers across Western and Eastern Europe.

Ball said the purchase price reflects the strong strategic fit of the assets, their geographic complementarity within its existing European network, and the high-quality manufacturing footprint of the Benepack business.

All required regulatory approvals have been secured, and the transaction is expected to close in the first quarter of 2026, subject to customary closing conditions.

Benepack operates as a regional producer of aluminium beverage cans, supplying a broad customer base that includes multinational beverage brands as well as local players.

The addition of the Belgian and Hungarian plants is expected to enhance Ball’s ability to serve customers more efficiently across Europe, while supporting capacity flexibility and supply chain resilience.

“Benepack’s plants in Belgium and Hungary are well positioned to serve a growing base of beverage customers across Europe,” said Ron Lewis, chief executive officer of Ball Corporation.

“This investment further optimises our European manufacturing network, supports long-term volume and economic value added growth with key customers, and reinforces aluminium beverage cans as a sustainable, scalable packaging choice.”

The acquisition aligns with Ball’s broader strategy of investing in regions and formats where aluminium cans are gaining share, driven by sustainability commitments, recyclability targets and shifting consumer preferences.

Aluminium beverage cans are widely recycled and increasingly favoured by brands seeking to reduce packaging-related carbon footprints.

The European move follows a series of recent capacity investments by Ball in other high-growth markets.

In November 2025, the company invested US$60 million to expand its Sri City plant in India, responding to surging demand for aluminium cans.

Earlier in the year, Ball also completed a US$55 million upgrade to its Taloja facility near Mumbai, further increasing output and operational efficiency.

“India is key to our global strategy, and this investment reflects our focused approach to scaling operations in high-growth markets,” said Mandy Glew, President, Ball Beverage Packaging EMEA and Asia, at the time.

She added that the company continues to assess additional expansion opportunities as aluminium gains traction among both brands and consumers.

India’s beverage can market is forecast to grow at more than 10% annually over the next five years, driven by rising consumption of ready-to-drink beverages, urbanization, and growing demand for sustainable, convenient and fully recyclable packaging.

Combined with the Benepack acquisition, Ball’s recent investments underline its dual focus on strengthening mature markets in Europe while accelerating growth in emerging regions.

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