US-based consumer packaging manufacturer Crown has entered an agreement to purchase Signode Industrial Group in a $3.91bn cash transaction.

Based in Glenview, Illinois, Signode is a provider of transit packaging systems and solutions that comprise strap, stretch and protective packaging consumables, in addition to related application equipment and tooling.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Subject to review by various competition authorities, Signode Industrial Group will be acquired by Crown from American asset management company The Carlyle Group.

“Combined with its highly engineered equipment and service business, Signode offers full solutions to meet customers’ transit packaging needs.”

Crown president and chief executive officer Timothy Donahue said: “With this acquisition, we add a portfolio of premier transit and protective packaging franchises to our existing metal packaging business, thereby broadening and diversifying our customer base and significantly increasing our cash flow.”

Subject to customary closing adjustments, the transaction is expected to conclude during the first quarter of next year.

Debt financing has also been fully committed in support of the acquisition.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Donahue added: “Combined with its highly engineered equipment and service business, Signode offers full solutions to meet customers’ transit packaging needs.

“In addition to its equipment and protective packaging businesses, geographic and product mix provide a strong platform for value-creating growth.”

Citigroup Global Markets served as the exclusive financial adviser to Crown and offered committed financing for the transaction.

Signode Industrial Group is currently operational in 40 countries across six continents, with sales to customers in nearly 60 countries.