KPS Capital Partners, a private equity firm, completed the acquisition of an 80% stake in the European tinplate business of Crown Holdings, a supplier of rigid packaging products, for $2.7bn. “We are very pleased that the European Tinplate business will have a strong owner in KPS Capital Partners to support future profitable growth and innovation initiatives. European customers and consumers alike have long embraced metal packaging, valuing the premium product protection and flavor preservation that it offers. We are excited to retain a minority stake in the business alongside KPS as Crown shareholders will benefit from the KPS team and its track record of owning manufacturing companies and creating tremendous value," Timothy Donahue, Crown CEO.