Sonoco has confirmed the completion of its acquisition of the remaining equity interest in RTS Packaging, LLC from joint venture partner WestRock and one WestRock paper mill in Chattanooga, TN.
The acquisition, originally announced on November 9, 2022, will further strengthen and expand Sonoco’s 100% recycled fibre-based packaging solutions to serve growing consumer wine, spirits, food, beauty and healthcare markets. Prior to closing the transaction, Sonoco was a 35% owner in the joint venture with WestRock.
With this acquisition, Sonoco adds a network of 15 operations and 1,100 employees in the U.S., Mexico, and South America. The purchase price for this acquisition was $330m, subject to customary price adjustments.
