Sonoco Concluded Acquisition of Colorado-based Ball Metalpack

SEATTLE (Scrap Monster): Hartsville, South Carolina-headquartered Sonoco announced that it has completed acquisition of Broomfield, Colorado-based Ball Metalpack- a leading North American manufacturer of sustainable metal packaging solutions for food and household products.

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Ball Metalpack was acquired for $1.35 billion in cash. The acquisition was partly funded by proceeds from the Company’s recently completed $1.2 billion green bond issuance. The borrowings under the new term-loan facility were also utilized to fund the purchase. J.P. Morgan Securities LLC served as financial advisor to Sonoco, while the legal advisor for the transaction was Freshfields Bruckhaus Deringer LLP.

Further to the closing of the transaction, the Ball Metalpack name has been changed to Sonoco and its financial results will now be reported in Sonoco’s Consumer Packaging segment. The tenured management team of Ball Metalpack will remain with the business. Also, the acquisition will not result in changes to operations or customer relationships, Sonoco press release said.

Ball Matalpack had reported nearly $850 million in revenue and $114 million in adjusted EBITDA during the previous year.