Crown buying Spanish food can maker Mivisa Envases for $1.64B
By The Associated PressGeneral Bottling Blackstone Group can manufacturing Crown Holdings Inc. Mivisa Envases
Acquisition of largest can manufacturer in Iberian peninsula will help Crown expand presence in European market.
PHILADELPHIA—Crown Holdings Inc. is spending US$1.64-billion to acquire the Spanish canning company Mivisa Envases and expand its footprint in Europe.
Mivisa is the largest can manufacturer in the Iberian peninsula with sales of more than $500-million, Crown said.
The company operates 10 plants in Spain and one in Morocco, which primarily can vegetables, fruit, fish and meat.
The Philadelphia packaging company is buying Mivisa from affiliates of the Blackstone Group.
The deal is expected to close next year (2014), according to Crown Holdings, subject to review by the European Commission and other regulatory authorities.
Information on Crown Holdings can be found at www.crowncork.com.