Sonoco (SON) to Buy Skjern Paper to Expand Presence in Europe

Sonoco Products Company SON announced that it has entered into a definitive agreement to acquire Denmark-based Skjern, a privately owned manufacturer of paper, for $88 million in cash. The acquisition will expand SON’s production capacity and help it capitalize on the growing market for sustainable paper and packaging products in Europe. The transaction is expected to be immediately accretive to both earnings per share and cash flow.

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