Crown completes sale of its European tinplate business

Written on: September 3, 2021 by SprayTM

Crown Holdings, Inc. announced on Aug. 31, 2021 that it has completed the previously announced sale of its European tinplate steel 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 that produce aerosol cans, food cans and ends, 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.