Major packaging firm Sonoco has acquired French paper can company Can Packaging.
The company has been bought for €41.7 million (£37.6 million).
Founded in 1989 by George Sireix, Can Packaging has two paper can manufacturing facilities in France along with a research and development centre where it designs and builds patented packaging machines and sealing equipment.
Sales are expected to be €23 million (£20.77 million) in 2020 from providing sustainable paperboard packaging to a number of large consumer food brands distributed across Europe.
Sonoco president and chief executive Howard Coker said: “We are extremely pleased to have Can Packaging joining Sonoco’s growing portfolio of sustainable packaging solutions.
“This strategic acquisition provides us many new innovations, including patented technology to produce a recyclable, high performance all-paper package, that can be made round, square, rectangular, oval, oblong or triangular.
“These innovations will complement our global Rigid Paper Container franchise and add to our EnviroSense sustainable packaging portfolio.”
George Sireix will remain as a consultant to the business, while his son Guillaume will stay as innovation leader for Sonoco’s European Consumer Products Division.
