Sonoco completes Weidenhammer Packaging acquisition for $360m

3 November 2014 (Last Updated November 3rd, 2014 18:30)

US-based industrial and consumer packaging provider Sonoco has acquired Weidenhammer Packaging, in a previously announced deal worth $360m.

US-based industrial and consumer packaging provider Sonoco has acquired Weidenhammer Packaging, in a previously announced deal worth $360m.

The acquisition is expected to increase Sonoco's worldwide consumer-related packaging and services business to approximately $2.8bn in annual sales.

"Completion of the acquisition is also expected to increase Sonoco's net sales in Europe to approximately 21% of its total sales."

Completion of the acquisition is also expected to increase Sonoco's net sales in Europe to approximately 21% of its total sales.

Headquartered in Germany, Weidenhammer currently operates 13 production facilities, including five in Germany, along with individual plants in Belgium, France, Greece, the Netherlands, the UK, the US, Chile and Russia.

Sonoco president and CEO M Jack Sanders previously said: "Combining Weidenhammer's state-of-the-art production and technological capability places Sonoco in a leading position to provide its global consumer product customers with unparalleled packaging expertise throughout North America and Europe, and creates a strong presence in the emerging markets of South East Asia, China, Eastern Europe and South America."

Weidenhammer employs 1,100 people and produces composite cans, drums and luxury tubes, as well as rigid plastic containers, using thin-walled injection moulding technology with modern in-mould labeling.

Its products cater to various sectors, such as processed foods, powdered beverages, tobacco, confectionery, personal care, pet food, pharmaceuticals, and home and garden products.

Sonoco had entered into a credit agreement for a new $600m bank credit facility in October to finance the acquisition.