Sonoco’s $1.35 Billion Acquisition of Ball Metalpack

Skadden, Arps, Slate, Meagher & Flom advised Ball Corporation, while Latham & Watkins advised Platinum Equity in the transaction. Freshfields represented Sonoco Products Company.

Ball Corporation announced with Platinum Equity the signing of a definitive agreement to sell Ball Metalpack to Sonoco in a transaction valued at approximately $1.35 billion. Closing of the transaction is subject to satisfaction of customary closing conditions, including regulatory review, and is expected to be completed in the first quarter of 2022.

Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with more than $25 billion of assets under management and a portfolio of approximately 50 operating companies that serve customers around the world.

Ball Corporation supplies innovative, sustainable aluminum packaging solutions for beverage, personal care and household products customers, as well as aerospace and other technologies and services primarily for the U.S. government. 

Ball Metalpack, based in Broomfield, Colorado, manufactures sustainable steel containers for aerosol products, food, household consumables, pet food, nutritional and other products in the United States. It was formed as a joint venture between Platinum Equity and Ball Corporation in 2018. Platinum Equity owns 51 percent of the business and Ball Corporation owns 49 percent.

Goldman Sachs is serving as financial advisor to Ball Metalpack on the sale to Sonoco. 

The Skadden team was led by M&A partners Shilpi Gupta (Picture; Chicago) and Eric Otness (Houston).

The Freshfields team was led by corporate/M&A partner Damien Zoubek and counsel Zheng (Jonathan) Zhou, and associates Vinita Sithapathy, Lucy Lei, Max Neumann, Annie Powderly and Jenny Park; executive compensation and employee benefits partner Lori Goodman and associates Andrew Herman and Jeffrey Anand; financing partner Dave Almroth and associates Chris Milla, Skyler Splinter and Andy Esmond; capital markets partner Pamela Marcogliese and associate Daniel Fox; regulatory partner Justin-Stewart Teitelbaum, counsel Laura Onken and associate Iris Zhou; tax partner Robert Scarborough and associate Thomas Bourneuf; IP/tech transactions partner Mena Kaplan and associates Marissa Yu and Jennifer Lei; data privacy and security partner Christine Lyon, counsel Brock Dahl and associate Elvira Sihvola; litigation partner David Livshiz and associate Rachel Johnson; and compliance counsel Stephanie Brown-Cripps and associate Tim Chen.

Involved fees earner: David Almroth – Freshfields Bruckhaus Deringer LLP; Jeffrey Anand – Freshfields Bruckhaus Deringer LLP; Thomas Bourneuf – Freshfields Bruckhaus Deringer LLP; Stephanie Brown Cripps – Freshfields Bruckhaus Deringer LLP; Brock Dahl – Freshfields Bruckhaus Deringer LLP; Daniel Fox – Freshfields Bruckhaus Deringer LLP; Lori Goodman – Freshfields Bruckhaus Deringer LLP; Andrew Herman – Freshfields Bruckhaus Deringer LLP; Rachel Johnson – Freshfields Bruckhaus Deringer LLP; Mena Kaplan – Freshfields Bruckhaus Deringer LLP; Jennifer Lei – Freshfields Bruckhaus Deringer LLP; Lucy Lei – Freshfields Bruckhaus Deringer LLP; David Livshiz – Freshfields Bruckhaus Deringer LLP; Christine Lyon – Freshfields Bruckhaus Deringer LLP; Pamela Marcogliese – Freshfields Bruckhaus Deringer LLP; Christopher Milla – Freshfields Bruckhaus Deringer LLP; Max Neumann – Freshfields Bruckhaus Deringer LLP; Laura Onken – Freshfields Bruckhaus Deringer LLP; Robert Scarborough – Freshfields Bruckhaus Deringer LLP; Elvira Sihvola – Freshfields Bruckhaus Deringer LLP; Vinita Sithapathy – Freshfields Bruckhaus Deringer LLP; Justin-Stewart Teitelbaum – Freshfields Bruckhaus Deringer LLP; Marissa Yu – Freshfields Bruckhaus Deringer LLP; Iris Zhou – Freshfields Bruckhaus Deringer LLP; Zheng Zhou – Freshfields Bruckhaus Deringer LLP; Damien Zoubek – Freshfields Bruckhaus Deringer LLP; Shilpi Gupta – Skadden; Eric Otness – Skadden;

Law Firms: Freshfields Bruckhaus Deringer LLP; Skadden;

Clients: Ball Corporation; Sonoco;