Sonoco is strengthening its sustainable packaging solutions division. The company is acquiring Can Packaging, a manufacturer of sustainable paper packaging. According to the company, the purchase price totals around EUR 41.7 million.
Can Packaging was founded in 1989 by George Sireix. Based in Habsheim, France, the company specialises in the Design and production of sustainable paper packaging and corresponding production facilities. It operates two production facilities for cardboard cans in France as well as a research and development centre. Patented packaging machines and patented sealing systems are developed and built here. The company is planning a turnover of 23 million euros for 2020. Can Packaging employs around 60 people and supplies a number of large, well-known food manufacturers across Europe with its sustainable paper packaging.
Portfolio strengthened in a targeted manner
„We are delighted that Can Packaging will be expanding Sonoco's growing portfolio of sustainable packaging solutions in the future,“ explained Howard Coker, President and CEO of Sonoco. „This strategic acquisition brings us numerous innovations, including a Patented technology for the production of fully recyclable packaging made primarily from paper. This packaging has excellent technical properties and can be produced in round, square, rectangular, oval, oblong or triangular formats. These innovations perfectly complement our global portfolio of stable cardboard packaging and not only expand our range of sustainable packaging solutions, but also our product portfolio for the EnviroSense™ products that we offer.“
Continuity guaranteed at Can Packaging
George Sireix will continue to work as a consultant for Sonoco. His son Guillaume will remain with the company's European consumer goods division as Head of Innovation. He was previously head of technology and engineering at Can Packaging. Can Packaging's operations and customer relationships will remain unchanged.
[infotext icon]About Sonoco
Founded in 1899, Sonoco offers its customers worldwide consumer goods and protective packaging, displays, packaging services and industrial products. With annual net sales of approximately USD 5.4 billion, the company employs around 23,000 people at 300 locations in 36 countries. In line with the corporate strategy Better Packaging, Better Life. Sonoco aims to develop sustainable products, services and programmes for customers, employees and communities. The company took first place in the „Fortune's World's Most Admired Companies 2020“ and „Barron's 100 Most Sustainable Companies“ awards in the packaging category. [/infotext]
Source: Sonoco
