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Sonoco To Acquire Highland Packaging Solutions - Quick Facts

Sonoco (SON) announced a definitive agreement to acquire Highland Packaging Solutions for approximately $150 million in cash. Highland is a privately owned producer of thermoformed plastic packaging for fresh produce and dairy products, based in Plant City, Fla.

The acquisition of Highland will be accretive to earnings in 2018, and the purchase price represents an EBITDA multiple of approximately 6.5 times post-synergies and tax benefits from the write-up of intangibles.

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