Sonoco acquires European packaging group for $360M

Sonoco acquires European packaging group for $360M

HARTSVILLE, SC (WMBF) - Sonoco, one of the largest diversified global packaging companies, announced that it has signed an agreement to acquire Weidenhammer Packing Group, Europe's leading provider of composite cans along with composite drums and rigid plastic containers, according to a news release issued by Sonoco.

Sonoco acquired the European group for about $360 million, in cash.

"We are extremely excited to welcome Weidenhammer's leadership team and its 1,100 associates into the Sonoco family," said Jack Sanders, president and CEO.

The deal will create a global leader in rigid paper packaging and is expected to increase Sonoco's global consumer-related packaging and services business to nearly $3 billion in annual sales, according to Sanders.

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