M&A Deal Summary

Sonoco Acquires Associated Packaging Technologies

On June 30, 2010, Sonoco acquired packaging company Associated Packaging Technologies from Castle Harlan for 120M USD

Acquisition Highlights
  • This is Sonoco’s 5th transaction in the Packaging sector.
  • This is Sonoco’s 11th largest (disclosed) transaction.
  • This is Sonoco’s 6th transaction in the United States.
  • This is Sonoco’s 1st transaction in Pennsylvania.

M&A Deal Summary
Date 2010-06-30
Target Associated Packaging Technologies
Sector Packaging
Buyer(s) Sonoco
Sellers(s) Castle Harlan
Deal Type Add-on Acquisition
Deal Value 120M USD

Target

Associated Packaging Technologies

Chadds Ford, Pennsylvania, United States
Associated Packaging Technologies,is a manufacturer and supplier of Crystallized Polyethylene Terepthalate (CPET) containers to the frozen food industry,Company is a provider of dual-ovenable, food packaging serving the frozen food industry in North America, Europe and Australia/New Zealand.

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Buyer(S) 1

Buyer

Sonoco

Hartsville, South Carolina, United States
Category Company
Founded 1899
Sector Packaging
Employees22,000
Revenue 6.8B USD (2023)
DESCRIPTION

Sonoco is a provider of a variety of consumer packaging, industrial products, protective packaging, and displays and packaging supply chain services. Sonoco Products was founded in 1899 and is based in Hartsville, South Carolina.

DEAL STATS #
Overall 8 of 20
Sector (Packaging) 5 of 16
Type (Add-on Acquisition) 7 of 18
State (Pennsylvania) 1 of 1
Country (United States) 6 of 14
Year (2010) 1 of 1
Size (of disclosed) 11 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-01-24 VoidForm International

Winnipeg, Manitoba, Canada

VoidForm International Ltd. is a privately held maker of fiber-based concrete construction void forms.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-10-10 Tegrant

DeKalb, Illinois, United States

Tegrant Corporation manufactures customized packaging for consumer goods and industrial applications.

Buy $550M

Seller(S) 1

SELLER

Castle Harlan

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1987
PE ASSETS 6.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Castle Harlan is a large private equity firm that targets private company investments in the US and Australia. Castle Harlan targets businesses in a wide range of industries that include, packaging, industrial services, manufacturing, restaurants, business services, distribution, publishing, and transportation. Castle Harlan can provide both equity and mezzanine capital. The Firm is affiliated with Australian private equity firm CHAMP Private Equity, and together formed CHAMP - Castle Harlan Australian Mezzanine Partners. Castle Harlan was formed in 1987 and is based in New York City.

DEAL STATS #
Overall 24 of 38
Sector (Packaging) 1 of 2
Type (Add-on Acquisition) 12 of 17
State (Pennsylvania) 2 of 3
Country (United States) 18 of 30
Year (2010) 1 of 3
Size (of disclosed) 17 of 19
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-21 IDQ Operating

Garland, Texas, United States

IDQ Operating, Inc. is a manufacturer of automotive A/C products for the “do-it-yourselfer” and professional service technician. IDQ offers a broad product line that includes value-added R-134a refrigerants to A/C tools and accessories, from one-step recharging and stop leak products to leak detection and lubricants.

Buy $160M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-07-19 The Ames Companies

Camp Hill, Pennsylvania, United States

The Ames Companies, Inc. is a manufacturer, marketer and distributor of non-motorized lawn and garden tools, wheelbarrows and hose reels. Ames products are marketed under the Ames, True Temper, Jackson and Garant brand names.

Sell $542M
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