Metal Price
Scrap Monster
Vulcan
Paper Recycling August 04, 2020 10:40:35 PM

Sonoco Declares Acquisition of Leading Paper Can Manufacturer

Paul Ploumis
ScrapMonster Author
As per estimates, Can Packaging is projected to report sales of nearly $27 million during the current year.

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.

ALSO READ:

Sonoco Announces Major Investment in Recycled Paperboard Machine

Sonoco Hikes Prices of Uncoated Recycled Paperboard

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.

SM Newsletter
Subscribe to SM mailing list and get updates to your inbox
Facebook Twitter Linkedin Instagram