Sonoco has agreed to acquire Clear Lam Packaging for about $170m to expand its global flexible packaging and thermoforming plastics operations.
Clear Lam Packaging, which was established in 1969, develops and manufactures flexible and rigid packaging materials for food and non food applications.
The company’s flexible and forming film packaging materials are used in fresh and processed foods, personal health care products, electronics, household products and industrial products.
The company, which employs about 400 people, has manufacturing plants in Elk Grove Village, Illionis, US, and Nanjing, China.
Clear Lam estimates to generate sales of $140m in 2017. It produces a range of multi-layer printed films and rigid roll-stock products for consumer packaged goods firms, retailers and other industrial manufacturers.
Sonoco president and CEO Jack Sanders said: “The addition of Clear Lam will significantly expand our Flexible Packaging and Thermoforming Plastics operations as we will be able to develop, produce and convert high barrier flexible and forming film structures to package fresh and prepared food products purchased in the growing store perimeter.
“As an example, Clear Lam complements our recent acquisition of Peninsula Packaging’s thermoforming operations by being able to produce barrier flexible film lidding that extends shelf life, is resealable and provides a complete packaging solution to our fresh fruit and vegetable customers.”
Sonoco provides several consumer packaging, industrial products, protective packaging, and displays and packaging supply chain services.
The company employs 20,000 people who work in over 300 operations in 33 countries.
Earlier this month, Sonoco expanded its ClearGuard portfolio of flexible packaging to include pouches for liquid or more viscous products.
Image: Sonoco agrees to buy