Trade Resources Economy It Had Sales of €555m and Ebitda Profit of €133m in The Year to June

It Had Sales of €555m and Ebitda Profit of €133m in The Year to June

The €1.2bn acquisition of the business from private equity groups Blackstone and N+1 Mercapital will extend Crown's reach in Spain and north Africa.

Mivisa is headquartered in Murcia and is the biggest producer of two- and three-piece food cans and ends in both the Iberian peninsular and Morocco.

It had sales of €555m and EBITDA profit of €133m in the year to June and primarily serves the vegetable, fruit, fish and meat markets from its 10 manufacturing facilities.

In a statement, Crown chairman and chief executive John Conway said: "We are excited about the acquisition of Mivisa, as it will significantly build upon Crown's existing position in the strategically important European food can segment by substantially increasing our presence in Spain, one of Europe's leading agricultural economies.

"Mivisa has demonstrated impressive sales and profitability growth in recent years through prudent investment, highly efficient manufacturing practices, focused innovation and excellent customer relationships.

"We believe that adding this well-performing business to our broad network of food can operations in Europe will result in compelling benefits to both customers and shareholders."

Source: http://www.packagingnews.co.uk/news/crown-buys-spanish-canmaker-mivisa-in-1bn-deal/
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Crown Buys Spanish Canmaker Mivisa in £1bn Deal