Crown Expands Beverage Can Footprint Into Germany With Acquisition Of Helvetia Packaging; No Financial Terms Disclosed
Portfolio Pulse from Happy Mohamed
Crown Holdings, Inc. (NYSE:CCK) has announced the acquisition of Helvetia Packaging AG, a beverage can and end manufacturing facility in Saarlouis, Germany. The acquisition will expand Crown's European beverage can platform to Germany with approximately one billion units of annual can capacity. The transaction is subject to approval by German anti-trust authorities and is expected to be completed by the end of 2023.
August 04, 2023 | 1:18 pm
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Crown Holdings' acquisition of Helvetia Packaging expands its European beverage can platform to Germany. The deal is expected to be completed by the end of 2023.
The acquisition of Helvetia Packaging allows Crown Holdings to expand its footprint in Europe, specifically in Germany. This could potentially increase its market share and revenues in the future, which is likely to have a positive impact on its stock price in the short term.
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