SONOCO
CPET container producer APT acquired for USD 120m
Packaging specialist Sonoco (Hartsville, South Carolina / USA; www.sonoco.com) has acquired Associated Packaging Technologies (APT, Chadds Ford, Pennsylvania / USA; www.aptechnologies.com) for USD 120m (EUR 96m) in cash from private equity company Castle Harlan (New York, New York / USA; www.castleharlan.com).
APT claims to be North America's largest manufacturer and supplier of CPET containers for the frozen food industry, with the capability to produce around 3 bn units annually. Sonoco expects the business to be "modestly" accretive in 2010 and to generate annual sales of around USD 150m.
APT was established in 1993 and provides dual-ovenable food packaging serving the frozen food industry in North America, Europe, Australia and New Zealand. It operates four CPET thermoforming facilities in Cambridge, Ontario / Canada; Chillicothe, Missouri and Waynesville, North Carolina in the US and in Carrickmacross / Ireland. It employs over 400 workers.
APT claims to be North America's largest manufacturer and supplier of CPET containers for the frozen food industry, with the capability to produce around 3 bn units annually. Sonoco expects the business to be "modestly" accretive in 2010 and to generate annual sales of around USD 150m.
APT was established in 1993 and provides dual-ovenable food packaging serving the frozen food industry in North America, Europe, Australia and New Zealand. It operates four CPET thermoforming facilities in Cambridge, Ontario / Canada; Chillicothe, Missouri and Waynesville, North Carolina in the US and in Carrickmacross / Ireland. It employs over 400 workers.
06.07.2010 Plasteurope.com [216692]
Published on 06.07.2010