Sonoco has acquired Can Packaging, a privately owned France-based designer and manufacturer of sustainable paper packaging and related manufacturing equipment, for $41.7 million.
Can Packaging operates two paper can manufacturing facilities in France along with a research and development centre where it designs and builds patented packaging machines and sealing equipment.
The company, which is projected to produce sales of approximately €23 million or $27 million in 2020, provides sustainable paperboard packaging to a number of large consumer food brands distributed across Europe.
“This strategic acquisition provides us many new innovations, including patented technology to produce a recyclable, high performance all-paper package, that can be made round, square, rectangular, oval, oblong or triangular,” said Howard Coker, President and CEO of Sonoco.
“These innovations will complement our global Rigid Paperboard Container franchise and add to our EnviroSense sustainable packaging portfolio.”
Sean Cairns, Division Vice President and General Manager of Sonoco’s European Consumer Products Division, said: “Adding Can Packaging’s innovation center, intellectual property and proprietary manufacturing capabilities will allow Sonoco to leverage and enhance our strong material science and engineering capabilities to develop more recyclable, mono-material paper packaging solutions that will have a wide range of food barrier properties for our customers in Europe.
“We also see using Can Packaging’s unique, low-cost machine technology to expand our consumer products offering into growth markets.”
Cairns added that Sireix will remain as a consultant to Sonoco and his son, Guillaume, who leads technology and engineering for Can Packaging, will remain as an innovation leader of the Company’s European Consumer Products Division.
