Deloitte Advises Plastic Packaging in Sale to Sonoco
Deloitte Corporate Finance acted as the exclusive financial advisor to Plastic Packaging, a Hickory, NC-based manufacturer of flexible plastic packaging products, in its sale to Sonoco Products, an international manufacturer of industrial and consumer packaging products. The transaction closed on October 31, 2016.
“We needed a flexible approach to a potential transaction with a number of desired outcomes for our owners, management team and employees, to achieve optimal results,” said Ronnie Boyd, executive vice president of Plastic Packaging. “Deloitte brought all of the employee stock ownership plan corporate finance capabilities, M&A experience, industry knowledge and executional excellence required to deliver this result.”
“PPI is yet another family-owned business in the packaging space that has grown into a dynamic partner for customers in need of solutions, not just products,” said Will Frame, managing director, Deloitte Corporate Finance. “With this transaction, PPI’s solutions provide a new element to Sonoco’s growth story and a coveted position in the flexible plastic packaging category.”