$3.9 billion: packaging firm Sonoco acquires metal can maker Eviosys

South Carolina-based sustainable packaging company Sonoco bought Swiss-headquartered Eviosys, a manufacturer of food cans, ends and closures. The company supplies packaging material to several industries, including the pet food industry.

The acquisition, worth $3.9 billion (€3.6B), will position Sonoco as the global manufacturing leader of metal food can and aerosol packaging.

“Eviosys brings extensive global reach and an attractive growing customer base that perfectly complements our existing metal packaging offering,” comments Sonoco’s President and CEO Howard Coker.

Both companies will focus on unlocking “new opportunities” in key markets, providing customers with a “stronger value proposition” and enhancing brands through “high-quality, sustainable and innovative packaging solutions.”

Sonoco estimates Eviosys will generate $2.5 billion (€2.3B) in revenue in 2024 and achieve $100 million (€93M) of synergies within 2 years.

Pet food portfolio

Eviosys claims to have the largest metal food can manufacturing footprint in Europe, the Middle East and Africa (the EMEA region).

In 2023, the company invested €8 million ($8.5M) in expanding the production capacity of 2 Spanish facilities and 1 Portuguese hub. The investment was made to match the higher demands of the pet food market and for fish meat.

Eviosys also expanded its presence in Asia last year with a new plant in Thailand in response to the growth in the wet pet food market in the region. The plant was established to produce 85 g, single-serve, drawn aluminum pet food cans.