Mutares Acquires Sonoco Paper France

Mutares AG, Munich, Germany, has acquired the French core board manufacturer Sonoco Paper France from Sonoco Products Co., Hartsville, S.C., USA. In 2015, the company generated a turnover of EUR 32 million with 73 employees. 

Sonoco Paper France is a manufacturer of core board located in Schweighouse-sur-Moder, France. Its core board is mainly used in tubes and cores, e.g. for the hygiene market. The company has a strong market position in France and Germany. 

Philip Szlang, president of Mutares France, said that "Sonoco Paper France is a new step in the development of the French portfolio. With regards to our current pipeline, this is the first of a series of French acquisitions we expect in 2016."

Sonoco Paper France is already the third portfolio company in Mutares’ wood and paper business. In May 2015, Mutares acquired Zanders, a German manufacturer of premium paper with 480 employees and a turnover of EUR 99 million. In October 2015, Mutares acquired Norsilk, a French manufacturer of wood products for construction purposes with 115 employees and a turnover of EUR 43 million.

Sonoco is a global provider of consumer packaging, industrial products, protective solutions, and display and packaging services, generating a turnover of $5 billion. From its headquarters in Hartsville, and more than 330 operations in 34 countries, Sonoco produces packaging for a variety of industries and many of the world’s most recognized brands, serving customers in 85 nations.

Mutares AG acquires companies that are being sold in the course of a repositioning process at their owners and that show a clear operational improvement potential. Getting engaged with its own teams, Mutares actively supports its portfolio companies to achieve a clear value increase. The focus of the operational work is to ensure sustainable, long-term growth.