Sonoco Completed Acquisition of Remaining Interest in Flexible Packaging Joint Venture

Also, the joint had reported sales of nearly $34 million during the whole of the previous year.

SEATTLE (Scrap Monster): Hartsville, S.C-based Sonoco announced that it has completed acquisition of the remaining one-third interest in the Brazil-based flexible packaging joint venture, Sonoco do Brasil Participacoes Ltda. It must be noted that the company had purchased two-third interest in the project from Curitiba, Brazil-headquartered Graffo Paranaense de Embalagens S/A in March 2015.

The joint venture is regarded as a top-tier flexible packaging supplier to several global multinational consumer packaging goods companies that serve a variety of industries including confectionery, dairy, pharmaceutical and industrial in Brazil.

Being one of Brazil’s largest converters of foil-based flexible packaging, it operates high-quality rotogravure printing presses and sophisticated lamination applications at its Pinhais facility. Also, the joint had reported sales of nearly $34 million during the whole of the previous year.

Sonoco had been keen on investing in Brazil with a partner, who has strong technical capabilities and established relationships with both large global consumer product companies and growing local businesses. The acquisition will help Sonoco in growing its presence in the important emerging market.

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