Industry News, Mergers and Acquisitions, Printers News

Sonoco Completes Acquisition of Peninsula Packaging

Acquired thermoformed packaging specialist for approximately $230 million.

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By: DAVID SAVASTANO

Editor, Ink World Magazine

Sonoco announced it has completed the acquisition of Peninsula Packaging Company, a leading manufacturer of thermoformed packaging for fresh fruit and vegetables found in the fast-growing perimeter of retail supermarkets.   Sonoco acquired Peninsula Packaging for approximately $230 million from funds managed by Odyssey Investment Partners, LLC and other shareholders. Sonoco financed the transaction with a combination of cash and a $150 million three-year term loan. Peninsula’s financial result...

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