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Amcor Rigid Plastics to Acquire North American Blow Molding Business from Sonoco.

MANews-(C)2009-2016

2 September 2016 - Australian plastic packaging company Amcor Rigid Plastics has entered into an agreement to acquire the assets of US-based packaging company Sonoco's Global Plastic blow molding business in North America, the company said.

Under the deal, Amcor will pay USD 280m.

Sonoco manufactures custom rigid plastic bottles, jars, overcaps and closures for the food, beverage, pharmaceutical, health and beauty, and personal care markets in seven plants located in the US and Canada.

Since 2010, Amcor Rigid Plastics has been building a strong position in the specialty container segment through its Diversified Products business unit.

With an increased focus on healthcare, food, and home and personal care markets, Amcor Rigid Plastics has developed several in-house capabilities and acquired specialised technologies to help customers grow.

The acquisition is subject to regulatory approvals.

Until the transaction is closed, Amcor Rigid Plastics and Sonoco will continue to operate as two separate companies.

Amcor Rigid Plastics is among the world's largest manufacturers of rigid plastic packaging for the food, beverage, spirits, personal care, home care and healthcare industries with 62 facilities in 12 countries. Based in Ann Arbor, Mich., Amcor Rigid Plastics is a subsidiary of Amcor Ltd.

The company employs more than 29,000 people worldwide and operating in more than 40 countries in 180-plus sites. Amcor supplies rigid and flexible packaging solutions to enhance products consumers use in everyday life.

Country: USA

Sector: Paper/Packaging/Office Supplies

Target: Sonoco/Global Plastic blow molding business in North America

Buyer: Amcor Rigid Plastics

Vendor: Sonoco

Deal size in USD: 280m

Type: Corporate Acquisition

Financing: Cash

Status: Agreed

Buyer advisor: , ,

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Publication:M & A Navigator
Date:Sep 2, 2016
Words:270
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