Ball Corporation has secured German regulatory approval to acquire a majority stake in Benepack, a China-based beverage can manufacturer with two European production sites in Belgium and Hungary. The transaction, cleared by the Bundeskartellamt, allows Ball to proceed with the planned acquisition of 80% of Benepack’s European beverage can operations for approximately EUR 184 million (USD 215.9 million), while existing shareholders will retain the remaining 20%. Closing is expected in the first quarter of 2026, subject to customary conditions.
According to the Bundeskartellamt, Benepack has only a limited market presence in Europe, and the transaction does not raise serious competition concerns. The authority noted that high transport costs constrain competitive supply areas, mainly affecting western Germany and the neighboring Benelux countries. Even after completion, customers are expected to continue having several alternative suppliers. Luxembourg-based Ardagh Group was identified as the most directly affected competitor due to its nearby sites acquired from Rexam in 2016, following remedies imposed during Ball’s earlier Rexam acquisition.
Benepack entered the European market in 2020 with its Belgian plant and expanded further in 2023 with a facility in Hungary. For Ball, the acquisition fills a geographic gap in its European network, as the group currently operates new lines in the Czech Republic and the United Kingdom but has no production locations in Belgium or Hungary. Analysts see the deal as strengthening Ball’s position in both Western and Eastern Europe while supporting further growth through 2028.
The transaction comes amid a broader reshaping of Ball’s business. Over the past two years, the company has streamlined its portfolio to focus exclusively on packaging, including the divestment of its aerospace business in 2024 and several portfolio adjustments in cups and joint ventures. Earlier in 2025, Ball also acquired Florida Can Manufacturing and reduced its stake in its Saudi Arabian joint venture.
The acquisition is being advanced under newly appointed leadership. Ronald J. Lewis, who became Chief Executive Officer in November 2025, described the Benepack plants as well positioned to serve a growing European beverage customer base and to reinforce aluminum cans as a scalable and sustainable packaging solution. Under Lewis and Chief Financial Officer Daniel J. Rabbitt, Ball aims to optimize its European manufacturing network and support long-term volume growth with key beverage customers.
