Packaging: Sonoco to make second M&A in a year into the produce packaging market

OAKLAND, CA, March 30, 2018 (PPI Pulp & Paper Week) -Sonoco signed a definitive agreement to acquire Highland Packaging Solutions for about $150 million in a deal expected to close in the second quarter. Highland makes thermoformed plastic packaging for fresh produce and dairy products, based in Plant City, FL. If completed, it would be Sonoco's second acquisition in about a year totaling $380 million for firms in the thermoformed packaging for fresh cut produce in the USA.

$275 million business.Vertical Research Partners analyst Chip Dillon said that Sonoco, with Highland Packaging, would generate more than 10% of its consumer packaging ...

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