Sonoco To Acquire Skjern - Quick Facts

(RTTNews) - Sonoco (SON) has entered into a definitive agreement to acquire S.P. Holding, Skjern A/S, a privately owned manufacturer of paper based in Skjern, Denmark. Skjern is a producer of high-grade paperboard from 100% recycled paper for rigid paper containers, tubes and cores, and other applications. The estimated $88 million deal is estimated to be completed in the fourth quarter of 2022.

Howard Coker, Sonoco's CEO, said: "Skjern has a strong reputation for high quality output from efficient and low emission operations, which aligns well with Sonoco's overall commitment to a circular economy and the reduction of greenhouse gases. With this acquisition, Sonoco is better positioned to be a trusted provider to new and existing customers and to further accelerate organic growth in Europe."