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Thu, Jun 30, 2022 22:29
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Sonoco Acquires Remaining Interest in Brazil Joint Venture

HARTSVILLE, S.C. (News release) -- Sonoco, one of the largest global sustainable packaging companies, announced it has acquired the remaining one-third interest in Sonoco do Brasil Participacoes, Ltda, 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.

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