Joint venture

Sonoco Acquires Remaining Interest in Brazil Flexible Packaging Joint Venture

0
66

Sonoco one of the largest global sustainable packaging companies, today announced it has acquired the remaining one-third interest in Sonoco do Brasil Participacoes, a Brazil-based flexible packaging joint venture, from private investors.

Sonoco acquired its two-third interest in the joint venture in 2015 from Graffo Paranaense de Embalagens S/A, a closely held flexible packaging operation located in Pinhais, near Curitiba, Brazil.

The joint venture had sales of approximately $34 million in 2021 and is a top-tier flexible packaging supplier to several global multinational consumer packaging goods companies serving confectionery, dairy, pharmaceutical and industrial markets in Brazil. The joint venture operates high-quality rotogravure printing and sophisticated lamination operations and is one of the largest converters of foil-based flexible packaging in Brazil.