Crown completes sale of European tinplate business
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Crown Holdings has completed the previously announced sale of its European Tinplate business to KPS Capital Partners, LP. As previously disclosed, Crown will retain a 20% ownership stake in the business.
The European Tinplate business comprises 44 manufacturing facilities in 17 countries in Europe, the Middle East and Africa which produce food cans and ends, aerosol cans, metal closures and promotional packaging for various consumer brands.
In 2020, the business generated €1.9 billion in revenue and approximately €220 million in estimated standalone EBITDA and had approximately 6,300 employees.