Sonoco Declares Acquisition of Leading Paper Can Manufacturer

SEATTLE (Scrap Monster): Hartsville, S.C.-based packaging major, Sonoco, announced acquisition of France-based Can Packaging for a total consideration of approximately $49 million.

The company, based in Habsheim commune in north-eastern France, has nearly 60 associates. It operates a couple of paper can manufacturing facilities in the country. In addition, it also owns a full-fledged research and development (R&D) center, where it undertakes design and construction of patented packaging machines and sealing equipment. It provides sustainable paperboard packaging solutions to several consumer food brands across the European region. As per estimates, Can Packaging is projected to report sales of nearly $27 million during the current year.

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Howard Coker, president and chief executive officer, Sonoco noted that the company is extremely pleased to add Can Packaging’s growing portfolio of sustainable packaging solutions to its fold. The strategic acquisition provides Sonoco with many new innovations, which in turn may add to its sustainable packaging portfolio, he added.

The operations and customer relationships will remain unchanged. George Sireix, Founder, Can Packaging will remain as a consultant to Sonoco. Also, his son Guillaume will remain as innovation leader of the European Consumer Products Division.