Crown Holdings, Inc. has entered into an agreement to acquire Mivisa Envases, SAU, a leading Spanish manufacturer of two- and three-piece food cans and ends, in a deal valued at €1.2 billion.
The acquisition is expected to close during 2014, subject to review by the European Commission and other competition authorities.
Primarily serving the vegetable, fruit, fish and meat segments, Mivisa Envases currently operates ten manufacturing facilities, including six in Spain and one in Morocco.
Commenting on the transaction, Crown chairman and CEO John W. Conway said: “The acquisition of Mivisa will significantly build upon Crown’s existing position in the strategically important European food can segment by substantially increasing our presence in Spain, one of Europe’s leading agricultural economies.
“Mivisa has demonstrated impressive sales and profitability growth in recent years through prudent investment, highly efficient manufacturing practices, focused innovation and excellent customer relationships.”
Headquartered in Philadelphia, USA, Crown Holdings is a leading manufacturer of packaging products for consumer marketing companies around the world, making a wide range of metal packaging for food, beverage, household and personal care and industrial products and metal vacuum closures and caps.
As of 31 December 2012, Crown operated 149 plants located in 41 countries, employing 21,856 people.
