On 24 October, the CMA initiated a Phase 1 investigation to review the proposed merger of two businesses, initially agreed upon in July for $3.9 billion. The objective of this investigation was to determine whether the merger would hinder competition within the UK packaging sector.
The CMA invited interested parties to submit comments from 24 October to 7 November. Subsequently, on 12 December, the CMA announced that it had cleared the deal.
While full details of the decision remain unpublished, the acquisition has been finalized earlier this month, allowing Sonoco to move forward with its vision of becoming a “leading metal food and aerosol can manufacturer worldwide.”
Eviosys excels in the production of food cans, ends, and closures. The company operates 44 manufacturing facilities across 17 countries and boasts a research and development center in Wantage, Oxfordshire.
World-class Manufacturing
Tomás López, who will remain Eviosys CEO, asserted: “Being part of Sonoco will allow us to extend our innovative packaging solutions and world-class manufacturing quality to a broader market.”
“We remain dedicated to our customers’ success and are excited to build on this foundation as we continue striving for excellence.”
Additionally, Howard Coker, president and CEO of Sonoco, expressed: “We are excited to begin executing our integration plans and welcome the incredibly talented team at Eviosys.”
“We see new and significant opportunities to unlock additional capabilities and end-markets in this larger, scaled business and look forward to investing in our combined product platform as we meet the growing demand for innovative solutions from our customers.”
