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FGS Global represents Sonoco Products as the South Carolina packaging company acquires Eviosys, maker of the containers for Pringles chips, in a deal valued at $3.9B.
The transaction positions Sonoco, the century-old company that first made textile cones for the garment business, into the world’s leading metal food can and aerosol packaging operation.
Eviosys, which has about $2.5B in annual revenues, employes 6,300 employees working in 44 plants across 17 countries.
Sonoco CEO Howard Coker said Enviosys pick-up marks "an exciting milestone in our strategy to scale our core strategic metal packaging platform and position Sonoco for long-term value creation."
KPS Capital Partners has owned Eviosys for about three years. It will reap a $1.8B gain on the deal.
The Financial Times said the Eviosys deal represents one of the biggest financial windfalls for a private equity company since the wave of dealmaking in 2021.
Caterpillar’s Rob Rengel will join ATI Inc. on June 22 as VP-investor relations, succeeding the retiring David Weston.
Hut 8, energy infrastructure platform, has named NextEra Energy's Mark Eidelman head of IR and SVP of strategic finance.
Teneo handles easyJet as Minneapolis investment firm Castlelake mulls a possible takeover of the British budget airline.
Brunswick Group represents Universal Music Group as it rejects the unsolicited $65B takeover offer by billionaire Ed Ackman's Pershing Square Capital Management because it “fundamentally and materially undervalues” the world’s largest music company.
Prosek Partners brings on Danielle O’Brien as a managing director in its investor relations practice, based in the firm’s New York office.
