M&A Deal Summary

Sonoco Acquires Matrix Packaging

On May 18, 2007, Sonoco acquired packaging company Matrix Packaging from Parallel49 Equity for 210M USD

Acquisition Highlights
  • This is Sonoco’s 4th transaction in the Packaging sector.
  • This is Sonoco’s 7th largest (disclosed) transaction.
  • This is Sonoco’s 1st transaction in Canada.
  • This is Sonoco’s 1st transaction in Ontario.

M&A Deal Summary

Date 2007-05-18
Target Matrix Packaging
Sector Packaging
Buyer(s) Sonoco
Sellers(s) Parallel49 Equity
Deal Type Add-on Acquisition
Deal Value 210M USD
Advisor(s) BMO Capital Markets (Financial)

Target

Matrix Packaging

Mississauga, Ontario, Canada
Matrix Packaging, Inc. is a manufacturer of high-quality plastic packaging, serving the personal care, household chemicals, and pharmaceutical markets.

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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 6 of 20
Sector (Packaging) 4 of 16
Type (Add-on Acquisition) 5 of 18
State (Ontario) 1 of 1
Country (Canada) 1 of 2
Year (2007) 1 of 1
Size (of disclosed) 7 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-05-28 Sonoco Display and Packaging

Winston Salem, North Carolina, United States

Sonoco Display and Packaging LLC is a provider of point-of-purchase display and packaging services.

Buy -
FOLLOWING 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 -

Seller(S) 1

SELLER

Parallel49 Equity

Vancouver, British Columbia, Canada

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1996
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Parallel49 Equity is a private equity firm that invests in mid-sized companies in Canada and the US. The Firm concentrates its investment efforts in the Western and Mid-western regions of both countries. Target businesses generally have enterprise values of $25 to $150 million and are profitable with $5 to $30 million of EBITDA. Parallel49 pursues acquisitions of public or private companies, management-led buyouts, recapitalizations and sales of subsidiaries of larger companies. Broad areas of interest include manufacturing, service, and distribution. Parallel49 will not invest in start-ups, new technologies, turnarounds or companies active in real estate development, gaming, restaurant or primary resource sectors. Parallel49 was formerly known as Tricor Pacific Capital. The Firm has offices in Vancouver, British Columbia, and Chicago, Illinois.


DEAL STATS #
Overall 7 of 22
Sector (Packaging) 1 of 3
Type (Add-on Acquisition) 2 of 9
State (Ontario) 1 of 2
Country (Canada) 7 of 11
Year (2007) 1 of 1
Size (of disclosed) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-11-09 Beresford Box

Waterloo, Ontario, Canada

Beresford Box Co., Inc. is a packaging manufacturer serving the food, consumer products, beverage and healthcare industries. Beresford Box produces folding paperboard-based packaging, specializing in high-quality, multi-coloured printed cartons.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-06-20 Consolidated Utility Services

Omaha, Nebraska, United States

Consolidated Utility Services, Inc. is a provider of a full spectrum of utility damage prevention process services and solutions. CUS’s customers include companies in the utility (gas, electric, water, sewer), telecommunications and cable industries. CUS provides critical services that help customers manage cost and service risks associated with damage to their buried infrastructure caused by a broad range of excavation activity.

Buy -