Packaging company Sonoco has acquired Can Packaging, a privately-owned designer and manufacturer of sustainable paper packaging, for €41.7 million.
Based in Habsheim, France, Can Packaging operates two paper can manufacturing facilities as well as a research and development centre where it builds patented packaging machines and sealing equipment.
Established in 1989, the company provides sustainable paperboard packaging to a number of consumer food brands distributed across Europe.
By acquiring these assets, Sonoco said it will expand its manufacturing capabilities and its consumer products offering into growth markets.
Can Packaging is projected to produce sales of approximately €23 million in 2020.
“We are extremely pleased to have Can Packaging joining Sonoco’s growing portfolio of sustainable packaging solutions,” said Howard Coker, appointed president and CEO earlier this year.
Last year, Sonoco signed an agreement to acquire recycled paperboard manufacturer Corenso Holdings America for approximately $110 million.
Coker added: “This strategic acquisition provides us many new innovations, including patented technology to produce a recyclable, high performance all-paper package, that can be made round, square, rectangular, oval, oblong or triangular. These innovations will complement our global Rigid Paperboard Container franchise and add to our EnvrioSense sustainable packaging portfolio.”
Sean Cairns, division vice president and general manager of Sonoco’s European consumer products division, said: “Adding Can Packaging’s innovation centre, intellectual property and proprietary manufacturing capabilities will allow Sonoco to leverage and enhance our strong material science and engineering capabilities to develop more recyclable, mono-material paper packaging solutions that will have a wide range of food barrier properties for our customers in Europe.”
Following the deal, Cairns added that George Sireix, founder of Can Packaging, will remain as a consultant to Sonoco. There will be no changes to operations or customer relationships.
© FoodBev Media Ltd 2020