Trivium Packaging

Netherlands · owned by Independent (Netherlands) · triviumpackaging.com · 43 vendors

Trivium Packaging is a global manufacturer and supplier of sustainable metal packaging solutions, producing a wide variety of products including aerosols, threaded bottles, beverage bottles, two- and three-piece cans, and slugs, ends and components from steel, tinplate, and aluminum. The company serves multiple industries including food, beverages, coffee, beauty and personal care, health and nutrition, pet, paints and coatings, and home care and industrial markets. With over 60 locations and approximately 7,400 employees worldwide, Trivium emphasizes sustainability and circularity through infinitely recyclable metal packaging.

Resilience scores

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Insights

Last updated 2026-09-01 · revision 94

43 direct vendors, 417 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Migration Readiness: 4/10

Assessed by AI based on technology stack characteristics (cloud-native vs legacy, containerization, microservices), regulatory environment, data residency requirements, financial stability, and vendor lock-in risks. The score ranges from 0-10, where higher scores indicate better readiness for technology migration.

Trivium Packaging's migration readiness is assessed as medium, leaning towards the lower end, primarily due to significant regulatory and data residency complexities, and a non-cloud-native core tech stack. The internal tech stack, featuring enterprise systems such as Umbraco CMS and SAP SuccessFactors, does not indicate a cloud-native, containerized, or microservices architecture. This suggests that a comprehensive digital migration would likely involve significant re-platforming efforts, increasing complexity and cost. The regulatory environment is extremely complex and high-risk, with numerous regulations (e.g., GDPR, NIS2, CSRD, PPWR, EU Food Contact Materials, REACH/CLP, CSDDD, UK GDPR, US State Privacy Laws) requiring 'Assessment Required' or 'Partially Compliant' status. Navigating these diverse and stringent compliance requirements across multiple jurisdictions would add substantial legal, technical, and financial overhead to any migration project. Trivium also faces a highly complex, multi-jurisdictional data residency landscape across its 18 countries of operation. This necessitates meticulous data transfer mapping, the implementation of appropriate safeguards like Standard Contractual Clauses (SCCs), and Transfer Impact Assessments (TIAs) for non-adequate countries (e.g., Morocco, Ukraine, Brazil). Ensuring cloud service providers can meet these specific data residency and transfer requirements would be a major challenge. The 'Vendor Lock-in Risk' is explicitly stated as 'Unknown' due to the missing 'Total Vendors' count (reported as 0, which is an anomaly). However, the presence of core enterprise systems like SAP SuccessFactors suggests potential lock-in with specific software providers, which could limit flexibility and increase costs during a migration. On the positive side, Trivium's stable financial performance, with revenues consistently around $3.0B, provides a strong foundation to fund a significant digital migration initiative. The existing adoption of various SaaS solutions (e.g., Microsoft 365, Google Translate API, YouTube, LinkedIn Talent Solutions, UpGuard) indicates a degree of familiarity and comfort with cloud-based services, which could ease the transition to a more cloud-centric architecture. The geographic diversity of vendor HQs/owners (10-11 unique countries) offers a potentially broad pool of service providers for new cloud and IT infrastructure, which could mitigate vendor concentration risks during a migration.

Compliance

11 in-scope frameworks identified; showing 3.

SOC 2 (source) — Assessment Required

SOC 2 is not a legal requirement but is increasingly expected by enterprise customers, particularly in North America, when vendors handle customer data or provide digital services. Trivium Packaging maintains an Information Security Trust portal (trust.triviumpackaging.com), which is a strong indicator that the company is aware of and potentially pursuing SOC 2 or equivalent assurance reporting. Risk is Medium because: (1) Trivium serves major global brands and enterprise customers who may contractually require SOC 2 reports; (2) The company processes B2B customer data (order data, financial data, contact data) through digital systems; (3) No SOC 2 report or certification has been publicly disclosed; (4) The existence of a dedicated trust portal suggests active information security governance but the specific framework (SOC 2, ISO 27001, or other) is unconfirmed. Risk is not High because SOC 2 is voluntary and Trivium's primary regulatory exposure is in the EU (where ISO 27001 is more common than SOC 2).

Evidence: https://trust.triviumpackaging.com/, https://www.triviumpackaging.com/corporate-governance-policy-documents, https://www.aicpa-cima.com/resources/landing/soc-2-reporting-on-an-examination-of-controls-at-a-service-organization-relevant-to-security-availability-processing-integrity-confidentiality-or-privacy

EU Food Contact Materials Regulation — Assessment Required

Food Contact Materials (FCM) regulations are directly applicable to Trivium Packaging as a major producer of food and beverage packaging (food cans, beverage bottles, coffee containers). Risk is High because: (1) EU Regulation 1935/2004 sets the framework for all food contact materials; (2) Metal packaging for food must comply with specific migration limits and safety requirements; (3) Trivium's food and beverage product lines (seafood, vegetables, beverages, coffee) represent a significant portion of their business; (4) Non-compliance can result in product recalls, market withdrawal, and significant reputational damage; (5) The company's Certification and Compliance page and food safety certifications (likely FSSC 22000, BRC) suggest awareness, but specific FCM compliance declarations are unconfirmed.

Evidence: https://www.triviumpackaging.com/products/industry/food, https://www.triviumpackaging.com/products/industry/beverages, https://www.triviumpackaging.com/services/certification-and-compliance, https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32004R1935

GDPR (source) — Partially Compliant

GDPR is universally applicable to Trivium Packaging given its Netherlands HQ and extensive EU operations across France, Germany, Italy, Spain, Netherlands, Czech Republic, Denmark, Hungary, Poland, and Romania. With ~7,200 employees globally and operations in 18 countries, the volume and complexity of personal data processed (employee data, customer/B2B contact data, supplier data, website visitor data, investor data) is substantial. The company has published a Privacy Policy that references GDPR rights and EEA-based data processing, which demonstrates awareness. However, no formal GDPR audit, DPO appointment disclosure, or Article 30 Records of Processing Activities (RoPA) are publicly evidenced. Risk is rated High because: (1) GDPR fines can reach €20M or 4% of global annual turnover — whichever is higher; (2) cross-border data transfers to non-EEA countries (US, Brazil, Argentina, Canada, Japan, South Korea, Morocco, Ukraine) require robust transfer mechanisms (SCCs referenced in policy but not verified); (3) the Dutch Data Protection Authority (Autoriteit Persoonsgegevens) is an active enforcer; (4) the company's international data flows and large employee base create significant compliance surface area. Partial compliance is assessed because a Privacy Policy exists with GDPR-aligned language, but no independent audit evidence, DPO disclosure, or certification is publicly available.

Evidence: https://www.triviumpackaging.com/privacy-policy, https://www.triviumpackaging.com/cookie-policy, https://trust.triviumpackaging.com/, https://www.triviumpackaging.com/about-us/our-locations, https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32016R0679

Financials

Three-year financials

Financial Resilience Score: 5/10

Trivium Packaging demonstrates a mixed financial resilience profile. On the positive side, it operates at meaningful scale (~$3 billion revenue, ~7,200 employees, 57 manufacturing sites) with leading global market positions in metal aerosols and food cans. It benefits from a blue-chip customer base with multi-year contracts, cost pass-through mechanisms for tinplate and aluminum, and structural tailwinds from regulatory pressure toward recyclable materials over single-use plastics. Long-horizon sponsor ownership (Ontario Teachers' Pension Plan ~57% and Ardagh Group ~43%) provides ownership stability. However, the company carries high leverage with net debt of approximately $2.5-2.7 billion and net leverage in the 5.5-6.5x Adjusted EBITDA range, making it sensitive to interest rate changes, EBITDA declines, and refinancing conditions. Book equity is negative or minimal due to the leveraged JV formation and dividend recapitalization. The 2023 destocking cycle showed volume cyclicality (revenue down ~9%), though margins have improved through cost programs, with Adjusted EBITDA margins expanding to ~15% in 2024. Additionally, Ardagh Group's own financial stress in 2024-2025 introduces potential ownership transition risk.

Key strengths: Scale with ~$3B revenue, ~7,200 employees across 57 manufacturing sites, Leading #1/#2 market positions in metal aerosols and food cans, Blue-chip customer base with multi-year contracts, Long-horizon sponsor ownership (Ontario Teachers' Pension Plan and Ardagh Group), Metal cost pass-through mechanisms protecting gross margins, Structural tailwind from regulatory shift away from single-use plastics, Adjusted EBITDA margins stable in mid-teens (~15% in 2024)

Risk factors: High leverage (net debt ~$2.5-2.7B; net leverage 5.5-6.5x Adjusted EBITDA), Negative or minimal book equity from leveraged JV formation and dividend recap, Volume cyclicality demonstrated by 2023 destocking (revenue -9%), Customer concentration typical of B2B packaging with large CPG customers, Raw-material and energy price volatility with lagged pass-through, FX translation risk (USD reporting, large EUR revenue/cost base), Ownership overhang from Ardagh Group financial stress and potential stake sale, Substantial cash interest burden and repeated refinancing needs

Revenue by geography

Revenue by product/service

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