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Deal snapshot: SONOCO TO ACQUIRE ILLINOIS, US-BASED CLEAR LAM PACKAGING FOR USD 170M IN CASH
Jun 27, 2017 (M&A Navigator via COMTEX) -- (C)2017 M2 COMMUNICATIONS http://www.m2.com

South Carolina, US-based packaging company Sonoco (NYSE: SON) has signed a definitive agreement to acquire 100% of the stock of flexible and forming plastic packaging films maker Clear Lam Packaging, Inc for approximately USD 170m in cash, the company said. The transaction is subject to normal regulatory review and is expected to close in 3Q17. Founded in 1969, the Elk Grove Village, Illinois-based company is projecting 2017 sales of approximately USD 140m and operates state-of-the-art manufacturing facilities in Elk Grove Village and Nanjing, China, with nearly 400 employees. Country: USA Sector: Paper/Packaging/Office Supplies Target: Clear Lam Packaging Buyer: Sonoco Vendor: Deal size in USD: 170m Type: Corporate Acquisition Financing: Cash Status: Agreed Buyer advisor: , , Comment:


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