OAK BROOK, Illinois
,
December 4, 2023
(press release)
–
Oak Brook, Illinois, November 27, 2023 Mauser Packaging Solutions Intermediate Company, Inc. (the “Company” or “Mauser”), an affiliate of Stone Canyon Industries LLC, and a global supplier of rigid packaging products and services, today announced its wholly owned subsidiary, BWAY Corporation, has entered into a definitive agreement to acquire newly issued shares representing 100% of the voting shares of Taenza, S.A. de C.V., a manufacturer of tin-steel general line, sanitary, and aerosol cans, and steel pails based in Mexico (“Taenza”). Mauser Packaging Solutions Intermediate Company, an affiliate of Stone Canyon Industries LLC, is a global supplier of rigid packaging products and services. The Company currently operates manufacturing locations in over 20 countries serving industry-leading customers on an international basis. Mauser Packaging Solutions announces an agreement to acquire Taenza, S.A. de C.V., a manufacturer of tin-steel general line, sanitary, and aerosol cans, and steel pails based in Mexico Mauser Packaging Solutions Expands IBC Capabilities in Mexico Mauser Packaging Solutions Opens New Facility in Turkey, Expanding its Collection and Reconditioning Network
The Company expects the transaction to close by April 2024, subject to regulatory clearances. Total consideration for the transaction will be a minimum of $99 million US Dollars, with a potential exit payment to the existing shareholders based on future Taenza performance.
The transaction is expected to provide Mauser with numerous key strategic benefits, including:
• Provides growth opportunity in Mexican paint and specialty market
• Additional manufacturing locations, capacity, and capabilities
• A margin accretive transaction, with multiple levers for value creation and opportunities to capture incremental synergies under Mauser ownership.
About Taenza
Taenza is a manufacturer of tin-steel general line, sanitary, and aerosol cans, and steel pails, with operations across five plants in Mexico. The company is headquartered in Mexico City, Mexico, and currently employs over 850 employees.
About Mauser Packaging Solutions Intermediate Company
Forward-Looking Statements
This press release contains forward-looking statements that are subject to substantial risks, uncertainties and assumptions. You should not place reliance on these statements. These statements often include words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “seek,” “will,” “may” or similar expressions. Such forward-looking statements include, but are not limited to, statements about the expected timing of the consummation of the Taenza transaction and the benefits of the Taenza transaction, including future financial and operating results, and our plans, objectives, expectations and intentions. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. For example, these forward-looking statements could be affected by factors including, without limitation, risks associated with the ability to consummate the Taenza transaction and the timing of the closing of the Taenza transaction; the failure to obtain the required regulatory approvals, the ability to successfully integrate Taenza’s operations and employees with Mauser’s; the ability to realize anticipated benefits and synergies of the Taenza transaction; the potential impact of announcement of the transaction or consummation of the Taenza transaction on relationships, including with employees, customers and competitors; the amount of the costs, fees, expenses and charges related to the Taenza transaction; and changes in financial markets, interest rates and foreign currency exchange rates.
In light of these risks, uncertainties and assumptions, the forward-looking statements contained in this current report might not prove to be accurate and you should not place undue reliance upon them. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements. All such statements speak only as of the date made, and we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Relations contact information
Jennifer Hiser
Vice President, Finance & Investor Relations
(630) 203-4088 / Jennifer.Hiser@Mauserpackaging.com
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