Sonoco Products Company agreed to acquire S.P. Holding, Skjern A/S for $88 million on September 23, 2022. As per terms of consideration, the transaction will be paid in cash. The deal is funded using cash on hand and available borrowing capacity.

The transaction has been approved by Sonoco?s Board of Directors. The transaction is subject to subject to customary closing conditions and is expected to be completed in the fourth quarter of 2022. The transaction is expected to be immediately accretive to both earnings per share and cash flow.

Cele Moncayo and Carlos Penim of Stifel Nicolaus Europe Limited acted as financial advisor to Sonoco Products Company. Jens Krogh Petersen of DLA Piper Sweden acted as legal advisor and Michael Lucente and Stephen Watson of Ernst & Young LLP acted as financial due diligence provider to Sonoco Products Company.