Total U.S. Containerboard Production Decreased 5 Percent in Q4 2022 (AF&PA)

Sonoco announced it has acquired Can Packaging, a privately owned designer and manufacturer of sustainable paper packaging and related manufacturing equipment, based in Habsheim, France, for total consideration of €41.7 million, or approximately $49 million. Founded by George Sireix in 1989, Can Packaging operates two paper can manufacturing facilities in France along with a research and development center where it designs and builds patented packaging machines and sealing equipment. Can Packaging is projected to produce sales of approximately €23 million or $27 million in 2020 and provides sustainable paperboard packaging to a number of large consumer food brands distributed across Europe. The business has approximately 60 associates.

Fourth Quarter Financial Highlights and Recent Events • Total revenue of $72.3 million, compared to $78.8 million in the fourth quarter of 2022. • Envelope segment revenue of $50.6 million, down from $60.7 million in the fourth quarter of 2022. • Packaging & Specialty Products segment revenue increased 20.2% to $21.7 million, from $18.1 million last year. • Net earnings were $0.7 million, compared to $6.7 million in the fourth quarter of 2022. • Solid free cash flow at $15.1 million, compared to $10.2 million in the fourth quarter of 2022. • Departure of the President of the Packaging and Specialty Products segment on October 17, 2023.

The Mayr-Melnhof Group (MM) has acquired 100% of the shares in Eson Pac, based in Veddige, Sweden, from the majority shareholder Nalka Invest AB and the minority shareholders from family and management. With a total turnover of around EUR 48 million, Eson Pac develops, produces and sells high-quality secondary packaging solutions for the pharmaceutical industry. The company has three production sites in Sweden and one in Denmark, focusing on folding boxes, leaflets and labels. Eson Pac currently employs around 300 people. "With this acquisition, we are strengthening our presence within the premium segment of the packaging division. The transaction ideally complements our current customer base and offers attractive new opportunities. In combination with our existing activities, we can offer our customers even more innovative and sustainable solutions. We are very confident that together with the highly qualified team from Eson Pac, we will successfully advance the joint growth course", commented MM CEO Peter Oswald.