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Sonoco agreed to acquire Ball Metalpack, a metal packaging joint venture owned by Platinum Equity and Ball Corporation, for $1.35 billion in cash. Ball Metalpack is projected to generate about $850 million in 2021 revenue.
Newell Brands awarded Ball Metalpack a long-term manufacturing contract. No value or location was disclosed.
Ball Metalpack has signed a long-term agreement to supply metal screw caps and rings to consumer and commercial products manufacturer Newell Brands. The announcement was made on September 17, 2018.
Ball and Platinum Equity formed a joint venture, Ball Metalpack, a standalone US maker of steel containers. Platinum Equity holds 51% and Ball keeps 49%, with Ball receiving $600 million in pre-tax proceeds.
Ball Corporation and Platinum Equity agreed to form Ball Metalpack, a steel container packaging joint venture in which Platinum holds 51% and Ball 49%. Ball contributes its U.S. tinplate steel food and aerosol plants and receives over $600 million in pre-tax proceeds.
