Sonoco has completed the acquisition of Weidenhammer Packaging Group (WPG), an European provider of composite cans along with composite drums and rigid plastic containers.
The acquisition costs €286 million (US$360 million) in cash.
“The acquisition creates a global leader in rigid paper packaging and is expected to increase Sonoco’s combined global consumer-related packaging and services business to approximately $2.8 billion in annual sales or approximately 53% of the company’s combined revenue of approximately $5.4 billion,” says M. Jack Sanders, Sonoco president and CEO.
“In addition, the combination is expected to increase Sonoco’s net sales in Europe to approximately 21 percent of total sales.”
Headquartered in Hockenheim, Germany, WPG has approximately 1,100 employees and operates 13 production facilities, including five in Germany, along with individual plants in Belgium, France, Greece, The Netherlands, the UK, US, Chile and Russia.
In addition to producing composite cans, drums and luxury tubes, WPG produces rigid plastic containers using thin-walled injection molding technology with in-mold labeling.
It serves markets such as processed foods, powdered beverages, tobacco, confectionery, personal care, pet food, pharmaceuticals and home and garden products.