Sonoco to Divest Europe Contract Packaging Business to Prairie Industries Holdings backed by The Halifax Group


Sonoco (NYSE: SON), one of the most diversified global packaging companies, today announced it has signed an agreement to sell its Europe contract packaging business to Prairie Industries Holdings, a Wisconsin-based contract packaging and contract manufacturing firm backed by The Halifax Group, a Washington, D.C.-based global investment firm, for $120 million in cash.

The transaction is subject to normal closing requirements and is expected to be completed in the fourth quarter of 2020.