Multi-Color Corporation completed its acquisition of the Labels Division of Constantia Flexibles from Constantia Flexibles GmbH in a cash and equity transaction valued at approximately $1.3 billion (€1.15 billion). The combined annual revenues of the two businesses will be approximately $1.7 billion. The combination brings together Constantia Labels' high performing Food and Beverage business with Multi-Color's strong Home and Personal Care and Wine and Spirits platforms, as well as its emerging global position in Healthcare. The acquisition will provide additional growth opportunities for Multi-Color in Home and Personal Care through Constantia Labels' European operational footprint and assets, and for Constantia Labels in Food and Beverage through Multi-Color's US operational footprint and assets. The stronger combined footprint in Asia will provide further revenue opportunities. We are delighted to welcome Constantia's 2,800 associates to the Multi-Color team, as well as Mike Henry, current Executive Vice President and Head of Constantia Labels, who today becomes CEO-elect of Multi-Color and will be appointed Chief Executive Officer in January 2018.
Sonoco (NYSE: SON) today announced it is implementing a $70 per ton price increase for all grades of uncoated recycled paperboard (URB) in the United States and Canada, effective with shipments beginning September 7, 2021.
Sonoco said the price increase was in response to continued tight market conditions as strong demand across the Company’s U.S. and Canada mill network has resulted in order backlogs remaining at near historic highs as well as unprecedented inflationary pressures on papermaking.