-Eviosysjoins the Sonoco family, forming a world leader in metallic packaging
-Expandedrange of products and services: thanks to Sonoco’s global network, Eviosys’ customers will benefit from a stronger supply chain. This integration underlines Eviosys’ commitment to quality service excellence, ensuring greater efficiency and reliability.
-Commitmentto quality and innovation: by joining Sonoco, Eviosys will be able to accelerate the development of innovative packaging solutions tailored to changing market needs. The shared commitment of both companies to quality and customer service remains strong, ensuring world-class metal packaging solutions.
-Boostingsustainability initiatives: Sonoco and Eviosys share a clear ambition for sustainability. By combining their expertise and resources, both companies will intensify their efforts to offer eco-responsible packaging solutions, helping their customers achieve their own sustainability goals and contributing positively to the environment and local communities.
December 4, 2024: Sonoco Products Company (“Sonoco”) (NYSE: SON), a global leader in sustainable, value-added packaging, today announced the completion of its previously announced acquisition of Eviosys, Europe’s leading manufacturer of metal packaging, from KPS Capital Partners, LP. This merger creates a global leader in the manufacture of metal food and aerosol cans, reinforcing its commitment to innovation, sustainability and quality service for customers worldwide. As part of the integration process, Eviosys will operate under the Sonoco brand in the coming months and will be integrated into Sonoco’s Consumer Packaging segment.
The business will be led by Tomás López, current CEO of Eviosys. This continuity in management will maintain the trusted relationships established with Eviosys’ customers. The integration of Eviosys into Sonoco will enable the new entity to meet the needs of its customers with a renewed focus on excellence and innovation. Tomas Lopez said, “Today begins a new chapter for Eviosys as we join the Sonoco family. Becoming part of Sonoco will allow us to expand our innovative packaging solutions and quality standards to a broader market. We remain committed to our customers’ success and look forward to building this new chapter together as we continue to strive for excellence. Howard Coker, Sonoco’s President and CEO, added This merger positions Sonoco as a world leader in metal packaging. We are excited to begin executing our integration plans and welcome the talented Eviosys team. We see significant new opportunities to expand our capabilities and access new markets. We are committed to investing in our combined product offering to respond to our customers’ growing demand for innovative solutions.”
Forward-looking statements:
Certain statements contained in this release relating to the acquisition are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “assume,” “believe,” “undertake,” “continue,” “may,” “estimate,” “anticipate,” “focus,” “future,” “outlook,” “potential,” “strategy,” “will,” or their negative forms and similar expressions identify these forward-looking statements.
These statements are based on current expectations, estimates and projections about Sonoco’s industry, management’s beliefs and certain assumptions made by management. Such information includes, without limitation, discussions of forecasts and other estimates, perceived opportunities, expectations, plans, strategies and objectives relating to Sonoco’s future financial and operating performance. These statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict.
Therefore, actual results could differ materially from those expressed or implied in these forward-looking statements. Risks and uncertainties include, among others: acquisition-related risks, including the ability to retain key employees and successfully integrate Eviosys; realization of estimated cost savings, synergies or other anticipated benefits; delays or difficulties in executing integration plans; potential impacts on customer and third-party relationships; management of new production capabilities; availability, costs and transportation of raw materials, energy and logistics, including potential impacts related to tariffs, sanctions or trade disputes; the effects of inflation, fluctuations in consumer demand and other macroeconomic factors; as well as challenges related to Sonoco’s environmental and social objectives, including greenhouse gas emissions.
Additional risks include the potential impacts of war, regional instability and geopolitical tensions, such as the ongoing conflict between Russia and Ukraine, along with related economic sanctions, or the ongoing conflict in Israel and Gaza. In addition, Sonoco could be affected by antitrust regulatory changes in the United Kingdom in connection with this acquisition.
For further details, Sonoco refers to its reports filed with the SEC, particularly in the “Risk Factors” section of its annual reports on Form 10-K and quarterly reports on Form 10-Q. Except as required by law, Sonoco undertakes no obligation to publicly update these forward-looking statements, whether as a result of new information, future events or otherwise. Considering these risks, uncertainties and assumptions, the forward-looking events discussed in this release may not occur.
About Eviosys:
Eviosys is a leading global supplier of metal packaging, producing food cans, closures, aerosols, metal closures and promotional packaging for numerous consumer brands. With 6,300 employees spread across 44 manufacturing facilities in 17 countries, Eviosys generated revenues of €2.41 billion in 2023. Recognized for its broad manufacturing footprint, Eviosys is committed to innovation, quality and sustainability. For more information, visit www.eviosys.com.
About Sonoco:
With net sales of approximately $6.8 billion in 2023, Sonoco has approximately 22,000 employees working in more than 300 facilities worldwide, serving some of the best-known brands. With the corporate purpose of “Better Packaging. Better Life.” (Better Packaging. Better Life.), Sonoco is committed to creating sustainable products and a better world for its customers, employees and communities. Sonoco was named one of America’s Most Responsible Companies by Newsweek. For more information, visit www.sonoco.com.
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