Deal to acquire Tegrant Corporation for USD 550m / Birth of a North American protective packaging giant

摘要

An agreement reached between global packaging giant Sono-co (Hartsville, South Carolina / USA; www.sonoco.com) and private equity firm Metalmark Capital (New York, New York / USA; www.metalmarkcapital.com), under the terms of which the former will acquire specialty packaging solutions manufacturer Tegrant Corporation (Arlington Heights, Illinois / USA; www.tegrant.com), will result in the creation of a new protective packaging giant in North America. According to Sonoco CEO Harris DeLoach, the USD 550m cash and debt deal, expected to close in November this year, is the largest in the company's history. Tegrant is expected to generate sales of USD 440m in 2011. Based on this projection, Sonoco could post revenues of about USD 5 bn in 2012.