Crown Holdings: Boring, Safe, And Hugely Profitable
- Crown Holdings is a high quality company operating in an industry with high barriers to entry.
- Costs in the beverage division are lowest in the industry, incremental return of 20% on past ten years of capex.
- Business is highly cash-generative, sells at significant discount to the amount of cash that will be generated over the next five years.
- Investing heavily in growth in developing markets. Acquisition of Mivisa supports these attributes.