Sonoco Products has agreed to acquire Eviosys, a manufacturer of cans and other packaging, from KPS Capital Partners for approximately US$3.9 billion.

Eviosys boasts the largest metal food can manufacturing operation in the EMEA region, employing more than 6,300 people across 44 manufacturing sites in 17 countries in Europe, the Middle East and Africa. Sonoco, which reported net sales of approximately $6.8 billion in 2023, employs approximately 22,000 people in more than 300 facilities worldwide and serves some of the world's most recognizable brands.

The packaging industry has recently experienced a sharp increase in transactions. International Paper has agreed to buy carton maker DS Smith and has itself attracted takeover interest from Brazilian wood pulp exporter Suzano. In addition, Smurfit Kappa acquired WestRock last year.