AMSTERDAM (dpa-AFX) - Crown Holdings Inc. (CCK) said Monday that it agreed to acquire Empaque, a leading Mexican manufacturer of aluminum cans and ends, bottle caps and glass bottles for the beverage industry, from Dutch brewer Heineken N.V. (HINKY.PK), in a cash transaction valued at $1.225 billion, subject to adjustment.
The acquisition is subject to customary closing conditions, including competition authority approval, and is expected to close by year end 2014 and contribute between $0.15 and $0.20 per share to Crown's 2015 earnings before synergies, but including estimated amortization and depreciation for purchase accounting adjustments.
With projected 2014 sales of approximately $700 million and EBITDA of approximately $150 million, EMPAQUE, headquartered in Monterrey, Mexico, currently operates two beverage can plants, a plant that manufacturers beverage can ends, aluminum closures and bottle caps, a glass bottle plant and a glass service facility in Mexico, with a total of approximately 1,500 employees.
Copyright RTT News/dpa-AFX