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.