KPS Capital to Acquire Crown’s EMEA Packaging Business for $2.7 Billion

Paul, Weiss is advising KPS Capital Partners, LP in its approximately $2.7 billion acquisition of the Europe, Middle East and Africa food, aerosol and promotional packaging business from Crown Holdings, Inc. Crown will retain 20% ownership of the company. The EMEA Food and Consumer Packaging Business is the largest manufacturer of steel and aluminum food packaging in Europe and is a leading manufacturer of aerosol and promotional packaging. The company's products are highly sustainable and help to prevent food waste and drive higher rates of recycling. The transaction is expected to close in the third quarter of 2021, subject to customary closing conditions and approvals.

The Paul, Weiss team includes, among others, corporate partners Angelo Bonvino, David Carmona and Manuel Frey, and counsel Evan Berman; tax partner David Mayo; intellectual property partner Claudine Meredith-Goujon; and antitrust counsel Yuni Sobel.