M&A Deal Summary

Sonoco Acquires Peninsula Packaging

On February 16, 2017, Sonoco acquired packaging company Peninsula Packaging from Odyssey Investment Partners for 230M USD

Acquisition Highlights
  • This is Sonoco’s 10th transaction in the Packaging sector.
  • This is Sonoco’s 6th largest (disclosed) transaction.
  • This is Sonoco’s 9th transaction in the United States.
  • This is Sonoco’s 1st transaction in California.

M&A Deal Summary
Date 2017-02-16
Target Peninsula Packaging
Sector Packaging
Buyer(s) Sonoco
Sellers(s) Odyssey Investment Partners
Deal Type Add-on Acquisition
Deal Value 230M USD

Target

Peninsula Packaging

Exeter, California, United States
Peninsula Packaging Co. is a provider of custom thermoformed plastic packaging products targeting higher growth segments of the fresh produce and bakery markets. Peninsula Packaging has a fully integrated operating platform, which includes extrusion, thermoforming and labeling at its two production facilities located in Exeter, California and Wilson, North Carolina.

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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 13 of 20
Sector (Packaging) 10 of 16
Type (Add-on Acquisition) 12 of 18
State (California) 1 of 1
Country (United States) 9 of 14
Year (2017) 1 of 2
Size (of disclosed) 6 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-02 Plastic Packaging

Hickory, North Carolina, United States

Plastic Packaging, Inc. is a provider of customized flexible packaging for consumer brands in markets including: food products (i.e. frozen foods, baked goods, seafood), pet products (i.e. dry food, bird seed, litter), confection (i.e. seasonal promotions, heat-sealed chocolate packaging, hard and soft candy) and health and personal care (i.e. nutraceuticals, diapers, tissues/wipes).

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-26 Clear Lam Packaging

Elk Grove Village, Illinois, United States

Clear Lam Packaging, Inc. is a developer, manufacturer and converter of innovative flexible and forming film packaging materials used with fresh and processed foods, personal health care products, electronics, household products and industrial products. The company has manufacturing facilities in Elk Grove Village, Ill., and Nanjing, China, and has approximately 400 associates. Clear Lam produces a variety of innovative, multi-layer printed films and rigid roll-stock products for consumer packaged goods companies, retailers and other industrial manufacturers, while developing technologies and structures that minimize impact on the environment.

Buy $170M

Seller(S) 1

SELLER

Odyssey Investment Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1997
PE ASSETS 8.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Odyssey Investments is a private equity firm that seeks control/majority investments in middle-market companies. Odyssey looks to back existing management and make investments in the form of leveraged acquisitions, growth financings and recapitalizations. Sectors of interest include industrial manufacturing, business and financial services, aerospace products and services, and 'route-based services'. Odyssey Investment Partners is based in New York City with an additional office in Woodland Hills, California.

DEAL STATS #
Overall 26 of 34
Sector (Packaging) 3 of 3
Type (Add-on Acquisition) 6 of 7
State (California) 3 of 4
Country (United States) 25 of 33
Year (2017) 1 of 5
Size (of disclosed) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-19 Addison Group

Chicago, Illinois, United States

Addison Group delivers the expertise and talent that companies need to achieve and sustain business growth, offering a full suite of consulting services and talent solution capabilities across multiple sectors, including information technology, finance and accounting, healthcare, human resources, administrative, and digital marketing. Addison Group was formed in 1999 and is based in Chicago, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-27 Pexco

Johns Creek, Georgia, United States

Pexco is a North American designer and fabricator of engineered plastic components. It provides standard and specialty parts and components to manufacturers and end-users for a broad range of custom applications, including the specialty industrial, fluid-handling, lighting, traffic safety, fence, and electrical insulation industries. Pexco offers a full range of custom design, engineering, and fabrication services, including ISO 9001:2015 registration, across its manufacturing operations.

Sell -
Mergr

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