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Sonoco Products To Buy Corenso Holdings America For About $110 Mln In Cash

Sonoco Products Co. (SON) said that it agreed to buy Corenso Holdings America Inc. from a company owned by investment funds advised by Madison Dearborn Partners LLC and management for about $110 million in cash.

The transaction is expected to close in the third quarter of 2019.

Sonoco expects that the acquisition of Corenso Holdings America will be modestly accretive to its earnings in 2019, and does not expect to change operating leadership and customer relationships.

Corenso Holdings America is a U.S. manufacturer of uncoated recycled paperboard and high-performance cores used in the paper, packaging films, tape, and specialty industries.

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