Diversified packaging company Sonoco has enhanced its sustainable solutions portfolio with the acquisition of Can Packaging.
Based in Habsheim France, Can Packaging specialises in designing and manufacturing sustainable paper packaging and related manufacturing equipment.
The company operates two paper can manufacturing facilities in France. It also has a research and development centre, which designs and builds patented packaging machines and sealing equipment. It employs approximately 60 associates.
Sonoco president and chief executive officer Howard Coker said: “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 EnviroSense sustainable packaging portfolio.”
The transaction is valued at €41.7m. Can Packaging is expected to generate sales value of approximately €23m in 2020.
It will expand sustainable paperboard packaging offerings to various consumer food brands serving Europe market.
Sonoco European consumer products division vice-president and general manager Sean Cairns 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, Sireix will continue as a consultant to Sonoco, and Guillaume as the company’s European Consumer Products Division innovation leader.
Last month, Sonoco announced plans to upgrade its corrugated medium machine in Hartsville, South Carolina, US, with an investment of $83m.