Dechert advised Crown Holdings, Inc., a global leader in consumer packaging, in its agreement to acquire Mivisa Envases, SAU, a leading Spanish manufacturer of two- and three-piece food cans and ends, from certain investment funds managed by affiliates of The Blackstone Group L.P., N+1 Mercapital and management, in a cash transaction valued at €1.2 billion. The acquisition, which is subject to review by the European Commission and other competition authorities, is expected to close during 2014 and to be earnings accretive. Debt financing has been fully committed in support of the transaction.

With sales of €555 million and EBITDA of €133 million for the audited fiscal year ended June 30, 2013, Mivisa, based in Murcia, Spain, is the largest food can producer in both the Iberian Peninsula and Morocco. Primarily serving the vegetable, fruit, fish and meat segments, Mivisa currently operates ten manufacturing facilities, including six in Spain and one in Morocco.

Dechert’s team representing Crown was led by Philadelphia-based corporate attorney William Lawlor and included partners Ian Hartman and Gary Green, and associates James Cosgrove, Cody Cowper, Alecia Chen and Milad Sedeh.