Sonoco has acquired Clear Lam Packaging, a family-held developer and manufacturer of flexible and forming plastic packaging films, for approximately US$170 million in cash.
Founded in 1969, Clear Lam is projecting 2017 sales of approximately US$140 million and operates manufacturing facilities in Elk Grove Village and Nanjing, China, with almost 400 staff.
It develops, produces and converts high barrier flexible and forming films used to package a variety of products for consumer packaged goods companies and retailers, with a focus on structures used for perishable foods.
“One of the main attractions for us was the opportunity to leverage Clear Lam’s expertise in modified atmosphere packaging, which comes from a strong base of material science knowledge when it comes to films, additives and adhesives,” said Rob Tiede, Sonoco executive VP and chief operations officer.
“Clear Lam has also developed new portion-control condiment packaging, peel-reseal films for fresh fruits and vegetables, forming films for healthy yogurts, lidding films for fresh guacamole and several new packaging films that expand shelf life.”