{"id":16702,"date":"2023-09-12T22:00:49","date_gmt":"2023-09-12T18:30:49","guid":{"rendered":"https:\/\/paw.ir\/?p=16702"},"modified":"2023-09-12T09:17:56","modified_gmt":"2023-09-12T05:47:56","slug":"sonoco-completes-acquisition-of-rts-packaging","status":"publish","type":"post","link":"https:\/\/paw.ir\/?p=16702","title":{"rendered":"Sonoco completes acquisition of RTS Packaging"},"content":{"rendered":"<div class=\"news-content-wrap\">\n<div class=\"news-content\">\n<p><strong>Sonoco<\/strong>\u00a0Products Company announced the completion of its acquisition of the remaining equity interest in\u00a0RTS Packaging, LLC\u00a0from joint venture partner\u00a0<strong>WestRock<\/strong>\u00a0and one WestRock paper mill in\u00a0Chattanooga, Tennessee. The acquisition will further strengthen and expand Sonoco\u2019s 100% recycled fiber-based packaging solutions to serve growing consumer wine, spirits, food, beauty and healthcare markets. Prior to closing the transaction,\u00a0Sonoco\u00a0was a 35% owner in the joint venture with WestRock.<\/p>\n<p>With this\u00a0acquisition,\u00a0Sonoco\u00a0adds a network of 15 operations and 1,100 employees in the\u00a0U.S.,\u00a0Mexico, and\u00a0South America. The purchase price for this acquisition was\u00a0$\u06f3\u06f3\u06f0 million, subject to customary price adjustments. The Company funded the acquisition with borrowings under its existing credit facilities and cash on hand. After the transaction, the Company\u2019s net debt to adjusted EBITDA ratio is less than 2.9x. The acquisition is expected to be immediately accretive to earnings per share, excluding the impact of purchase accounting adjustments.<\/p>\n<p>Founded in 1899,\u00a0Sonoco\u00a0is a global provider of packaging products.<\/p>\n<\/div>\n<\/div>\n<div class=\"content-sharing-block\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Sonoco\u00a0Products Company announced the completion of its acquisition of the remaining equity interest in\u00a0RTS Packaging, LLC\u00a0from joint venture partner\u00a0WestRock\u00a0and one WestRock paper mill in\u00a0Chattanooga, Tennessee. The acquisition will further strengthen and expand Sonoco\u2019s 100% recycled fiber-based packaging solutions to serve growing consumer wine, spirits, food, beauty and healthcare markets. Prior to closing the transaction,\u00a0Sonoco\u00a0was a [&#8230;]\n","protected":false},"author":4,"featured_media":16703,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[131],"tags":[1112,1113,4933,1115,1123,1124,514,1086,662,246,3758,4398,525,3492,1143,648,665,1130,1145,1606,531,4934,4300,1897,132,4935],"class_list":["post-16702","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world-news","tag-business","tag-carton-box","tag-chattanooga","tag-chemical-for-paper","tag-containerboard","tag-corrugate","tag-corrugated","tag-ebitda","tag-economy","tag-en","tag-fiber-based-packaging","tag-llc","tag-packaging","tag-packaging-solutions","tag-paper-companies","tag-paper-industry","tag-paper-machinery","tag-paper-manufacturer","tag-pulp-paper","tag-recycled-fiber","tag-recycling","tag-rts-packaging","tag-sonoco","tag-tennessee","tag-westrock","tag-westrock-paper-mill"],"acf":[],"_links":{"self":[{"href":"https:\/\/paw.ir\/index.php?rest_route=\/wp\/v2\/posts\/16702","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/paw.ir\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/paw.ir\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/paw.ir\/index.php?rest_route=\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/paw.ir\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16702"}],"version-history":[{"count":1,"href":"https:\/\/paw.ir\/index.php?rest_route=\/wp\/v2\/posts\/16702\/revisions"}],"predecessor-version":[{"id":16704,"href":"https:\/\/paw.ir\/index.php?rest_route=\/wp\/v2\/posts\/16702\/revisions\/16704"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/paw.ir\/index.php?rest_route=\/wp\/v2\/media\/16703"}],"wp:attachment":[{"href":"https:\/\/paw.ir\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/paw.ir\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/paw.ir\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}