Leading metal packaging manufacturer Impress has entered into a definitive agreement with US-based private equity company Berkshire Partners to buy U.S.C Europe, the European operations of U.S Can, for an undisclosed sum.
The transaction is expected to be completed in the third quarter of 2006 and is subject to regulatory approvals.
The operations being bought comprise the food can business of May Verpackungen and the European aerosol activities of U.S.C Europe. In 2005 they had a combined sales turnover of €235m and employed some 1,200 staff.
May Verpackungen has two plants in Germany and one in Denmark, and a strong Northern European market position in the supply of cans for ready meals, vegetables and petfood. U.S.C Europe is Europe’s second largest aerosol supplier, with plants in the UK, France, Germany, Spain and Italy.
Impress, headquartered in Deventer, Holland, has a worldwide turnover of €1.4bn, employing around 6,500 in 43 facilities across Europe, North America, Japan and the Seychelles.
The company claims to be the world’s leading seafood can supplier and European leader in cans for paints and coatings as well as the continent’s second largest food can supplier and a significant manufacturer of aerosol containers.
“This is a major strategic opportunity for Impress,” says Francis Labbé, Impress ceo. “It will reinforce our position and extend our geographical coverage in the growing market for aerosols and strengthen our ability to serve food can customers in Northern Europe. The U.S.C Europe aerosol companies and May Verpackungen are an excellent fit with the Impress Group, and have developed very strong relationships with their customers through excellence in quality and service. These are advantages we will build on, while supporting them with our world-class product development resources.”
