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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.
Interpublic posted a 5.1 percent drop in Q3 net revenues to $2.5B as CEO Philippe Krakowsky reports the final financial results of the publicly traded company.
Joele Frank handles Pine Gate Renewables as the Asheville, NC-based solar power development company declares Chapter 11 in the aftermath of Donald Trump’s cuts to wind & solar tax credits.
Stagwell CEO Mark Penn reports Q3 net revenues jumped 6 percent to $614.5M, a record performance for a non-political period. Operating income soared 45.7 percent to $60.9M.
Joele Frank works for Klöckner Pentaplast as the German maker of plastic films declares Chapter 11. A successful reorganization would slash its its corporate debt by $1.5B.
Teneo represents Metsera, the New York City biotech focused on weight-control products, which is subject to a bidding war between heavyweights Novo Nordisk and Pfizer.
