Increases complex film production capabilities
Sonoco acquires Clear Lam in $170m acquisition
For Hartsville, S.C.-based Sonoco, the move brings locations in Elk Grove Village, Ill., and Nanjing, China, and nearly 400 additional employees.
Sonoco spokesman Brian Risinger sees the Clear Lam acquisition helping in two ways.
“The acquisition of Clear Lam adds capabilities for us, the ability to internalize this capability from a manufacturing standpoint of more complex films and internalizing those costs,” he said.
“The second thing is just the nature of their portfolio. We acquired Peninsula back in the spring and we are really focused on getting more into the perimeter of the store. Much of Clear Lam’s portfolio is also in fresh perishables,” Risinger said.
“I would say those are the two driving factors. There’s a technical capability and then there’s a portfolio that’s a good complement for us that, again, allows us to expand our footprint at retail,” he said.
source: plasticsnews.com
