The JV supplies flexible packaging solutions to multinational consumer packaging products firms serving confectionery, dairy, pharmaceutical, and industrial markets in Brazil
Sonoco acquired its two-thirds interest in the JV in 2015. (Credit: Jens P. Raak from Pixabay)
Sustainable packaging company Sonoco has acquired the remaining one-third interest in its Brazilian flexible packaging joint venture (JV), Sonoco do Brasil Participacoes, from private investors.
The packaging firm snapped up its two-thirds interest in the JV in 2015 from Graffo Paranaense de Embalagens, a flexible packaging firm based in Brazil.
The JV supplies flexible packaging solutions to multinational consumer packaging products firms serving confectionery, dairy, pharmaceutical, and industrial markets in Brazil. It had generated sales of around $34m last year.
According to the packaging firm, the JV is one of Brazil’s major converters of foil-based flexible packaging, with rotogravure printing and advanced lamination procedures.
Established in 1899, Sonoco provides consumer, industrial, healthcare, and protective packaging.
The firm has about 20,500 employees working in approximately 300 operations in 32 nations, serving brands in about 85 nations. It had reported net sales of about $5.6bn last year.
In January this year, Sonoco wrapped up the acquisition of metal packaging company Ball Metalpack from Platinum Equity and Ball for $1.35bn in cash.
Ball Metalpack manufactures sustainable steel containers for aerosol products, food, household consumables, pet food, nutritional and other products in the US. The company is headquartered in Broomfield of Colorado.