Deals
Crown Holdings Looks at Selling Food Cans Division
- Unit of Philadelphia-based Crown Could Fetch About $2 Billion
- Crown’s division produces 120 billion cans a year globally
Photographer: Dario Pignatelli/Bloomberg
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Crown Holdings Inc., one of the world’s largest designers and manufacturers of packaging products, is considering a sale of its food can business, according to people with knowledge of the matter.
The Philadelphia-based company is speaking with advisers about a sale of the unit early next year, said the people, who asked not to be identified because the information is private. The business, which is generating about $200 million a year in earnings before interest, taxes, depreciation, and amortization, is expected to fetch about $2 billion and attract interest from other packaging groups and private equity firms, the people said.