April 5, 2021 - Hood Container Corporation has acquired Sonoco Display and Packaging business for $80 million in cash. The business produced net sales of approximately $135 million in 2020 and provides point-of-purchase display design, manufacturing and fulfillment as well as contract packaging services for consumer product customers with more than 250 brands.
Based in Winston-Salem, North Carolina, the Display and Packaging business includes eight manufacturing and fulfillment facilities along with four sales and design centers and approximately 450 employees.
"I am delighted to welcome the team members of Sonoco Display and Packaging to our Hood Container family," said Greg Hall, President and COO of Hood Container. "We feel the cultures of both organizations align perfectly and we are excited about the acquisition and our combined future growth opportunities. We plan to capitalize this business to ensure we expand our customer base and offer world class service and capabilities."
Howard Coker, President and CEO of Sonoco, said, "Our U.S. Display and Packaging business has been an industry pioneer with a legacy of providing innovative solutions for complex supply chain challenges," said Howard Coker, Sonoco President and CEO. "However, Sonoco is focused on growing our core Consumer and Industrial packaging businesses around the world, and by divesting this business we expect to apply proceeds to further invest in ourselves while returning value to our shareholders."
Hood Container Corporation is a family-owned, mill to market company specializing in containerboard and kraft paper, corrugated boxes, high graphic displays and contract packaging. To learn more, visit: hoodcontainer.com
SOURCE: Hood Container Corporation and Sonoco
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