Sonoco, a U.S. public company providing innovative consumer packaging, industrial products and protective packaging, has acquired 100% of the shares of Can Packaging. The purchase of the shares and intellectual property rights was made for a total consideration of €41.7 million.
Can Packaging is specialized in the design of machinery and the manufacture of sustainable packaging solutions, and provides sustainable paperboard packaging to a number of large consumer food brands distributed across Europe. The company is projected to produce sales of approximately €23 million in 2020.
Sonoco was advised by a multi-disciplinary team from Gide, comprising partner Thomas Urlacher, working with associates Armelle Royer and Maroussia Jonglez on corporate / M&A aspects; partner Jean-Hyacinthe de Mitry and associate Célia Révy on intellectual property aspects; and partner Foulques de Rostolan on employment law aspects.