Sonoco Products to acquire Peninsula Packaging
Peninsula makes fresh fruit and vegetable packaging found in grocery stores. Exeter, Calif.-based Peninsula has five manufacturing sites and estimates its 2016 proformance sales at $190 million. That includes projected full-year sales from a new operation in Mexico that started in mid-year 2016.
“Our goal has been to strategically expand our consumer packaging portfolio to grow our offerings in both the center of the store and the fast growing perimeter,” Sonoco CEO Jack Sanders said in a statement.
“With the addition of Peninsula, Sonoco will nearly double its thermoforming packaging capabilities and occupy a strong packaging position serving the perimeter in fresh food products, combined with our existing offerings in the center of the store, including those serving a range of frozen and shelf-stable foods,” he continued.
source: plasticsnews.com
