Sonoco Acquires Sustainable Paper Can Solutions Producer

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Sonoco (NYSE: SON), one of the largest global diversified packaging companies, today announced it has acquired Can Packaging, a privately owned designer and manufacturer of sustainable paper packaging and related manufacturing equipment, based in Habsheim, France, for total consideration of €41.7 million, or approximately $49 million.

Founded by George Sireix in 1989, Can Packaging operates two paper can manufacturing facilities in France along with a research and development center where it designs and builds patented packaging machines and sealing equipment. Can Packaging is projected to produce sales of approximately €23 million or $27 million in 2020 and provides sustainable paperboard packaging to a number of large consumer food brands distributed across Europe. The business has approximately 60 associates.

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