Ball Corp. makes European investment

Ball Corp., which produces recycled aluminum cans and other forms of aluminum packaging, has entered into definitive agreements to acquire a majority stake in two beverage can manufacturing facilities in Europe.

Westminster, Colorado-based Ball says the assets to be acquired consist of its two production facilities in Belgium and Hungary operated by Genk, Belgium-based Benepack.

Under the terms of the agreements, Ball will acquire an 80 percent stake in the operation for an estimated cost of approximately $215 million. The remaining 20 percent interest in Benepack will be held by its existing shareholders.

The company says the transaction is being made at an attractive purchase price that reflects the strategic fit, geographic complementarity and high-quality footprint of the Benepack business.

Ball says all required regulatory clearances have been received for the proposed acquisitions and the transactions are expected to close in the first quarter of next year, subject to remaining conditions in the purchase agreements.

“Benepack’s plants in Belgium and Hungary are well positioned to serve a growing base of beverage customers across Europe,” Ball Corp. CEO Ron Lewis says. “This investment further optimizes our European manufacturing network, supports long-term volume and economic value-added dollar growth with key customers and reinforces aluminum beverage cans as a sustainable, scalable packaging choice.”

Ball employs 16,000 people worldwide and reported 2024 packaging sector net sales of $11.8 billion.