Sonoco completes Ball Metalpack acquisition
Sonoco has announced it has now completed the acquisition of Ball Metalpack.
“Sonoco and Ball Metalpack are a clear strategic fit. The metal packaging business complements Sonoco’s largest Consumer Packaging franchise – our iconic global Paper Cans and Closures business. In addition, this combination expands Sonoco’s already established sustainable packaging portfolio to include metal packaging, which is one of the world’s top circular economy adapted products,” said Howard Coker, President and CEO of Sonoco.
“We are extremely excited to welcome 1,300 experienced metal packaging associates into the Sonoco family. With a comprehensive and innovative product portfolio and facilities enhanced by significant recent investments in new technology and capacity, we believe the addition of this metal packaging business will further strengthen our stable cash flow generation and provide immediate earnings accretion.”
Previously part of Ball Corporation, the Ball Metalpack joint venture, headquartered in Broomfield, Colorado, was formed in 2018 and has more than 100 years of experience producing steel tinplate food and aerosol cans, as well as closures and packaging components.
The Ball Metalpack name is being changed to Sonoco and its financial results are expected to be reported in Sonoco’s Consumer Packaging segment.
Jim Peterson, a 15-year leader in the metal packaging industry, will remain as President of Sonoco Metal Packaging, reporting to Rodger Fuller, Executive Vice President. The business’ tenured management team also will remain with the business and there are no expected changes in operations or customer relationships as a result of the acquisition.