Add-on Acquisition • Manufacturing

Sonoco Acquires Phoenix Packaging

On September 14, 2001, Sonoco acquired manufacturer Phoenix Packaging from Dubilier & Co.

Acquisition Context
  • This is Sonoco’s 1st transaction in the Manufacturing sector.
  • This is Sonoco’s 3rd transaction in the United States.
  • This is Sonoco’s 1st transaction in Ohio.

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M&A Deal Summary

Date September 14, 2001
Target Phoenix Packaging
Sector Manufacturing
Buyer(s) Sonoco
Sellers(s) Dubilier & Co.
Deal Type Add-on Acquisition

Target Company

Phoenix Packaging

Canton, Ohio, United States
Phoenix is a manufacturer of easy-opening and pour-opening lids for the food and nutrition markets. In December 1997, the company acquired Northern, a competitive manufacturer of easy-opening and pour-opening lids also used for the food and nutrition markets. The company's headquarters and manufacturing facilities are located in the greater Canton, OH area.
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Buyer Overview 1

Buyer

Sonoco

Hartsville, South Carolina, United States

Category Company
Founded 1899
Sector Packaging
Employees28,000
Revenue 5.3B USD (2024)
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 Context for Buyer #
Overall 3 of 20
Sector: Manufacturing 1 of 2
Type: Add-on Acquisition 2 of 18
State: Ohio 1 of 1
Country: United States 3 of 14
Year: 2001 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1997-01-01 RTS Packaging

Atlanta, Georgia, United States

RTS Packaging design and manufacture customized solid fiber and corrugated partitions, folding cartons, sheeted paperboard and die-cut paperboard components. RTS Packaging is based in Atlanta, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-04-29 CorrFlex Graphics

Statesville, North Carolina, United States

CorrFlex Display & Packaging is a designs, manufactures, assembles, packs and distributes temporary, semi-permanent and permanent P-O-P displays as well as provides contract packaging, co-packing and fulfillment services for major consumer product companies.

Buy $250M

Seller Profile 1

SELLER

Dubilier & Co.

Stamford, Connecticut, United States

Category Private Equity Firm
Founded 1994
Size Small
Type Sector Agnostic
DESCRIPTION

Dubilier & Co. is a private equity firm that seeks investments in smaller middle-market companies. Transaction situations of interest include shareholder liquidity needs, growth capital financings, non-core divestitures, underperforming enterprises, and strategic/financial partnerships. While Dubilier will consider opportunities in a broad range of sectors, the firm has a special interest in media companies. Dubilier was formed in 1994 by Michael Dubilier, son of Martin Dubilier who co-founded mega private equity firm Clayton, Dubilier & Rice. Dubilier & Co. is based in Stamford, Connecticut.


Deal Context for Seller #
Overall 1 of 10
Sector: Manufacturing 1 of 1
Type: Add-on Acquisition 1 of 7
State: Ohio 1 of 1
Country: United States 1 of 10
Year: 2001 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-04-12 Magnetic Data Technologies

Goleta, California, United States

MDT is a leading provider of outsourced post-sale services to original equipment manufacturers (OEMs), including Compaq, EMC, Ericsson, Hewlett-Packard, Hitachi, Iomega, Lexmark, NEC, Nokia, Philips, Quantum, 3Com, and Western Digital. The company provides repair and warranty services for manufacturers of computer peripherals, telecommunication systems, and other electronic and digital devices.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-01-01 Advanced Refreshment

Mercer Island, Washington, United States

Advanced Refreshment is a manufacturer of bottled water products and cold fill value-added beverages such as teas and flavored water. With five production facilities across the United States, Advanced Refreshment is a low cost production platform with the ability to service its customers nationally. Advanced Refreshment was founded in 1998 and is based in Mercer Island, Washington.

Buy -