Packaging products provider Sonoco Products Co said on Monday it will buy sustainable metal packaging manufacturer Ball Metalpack for $1.35 billion in cash to expand its sustainable packing portfolio.
Ball Metalpack is projected to generate about $850 million in revenue and $111 million of adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) in 2021, Sonoco said.
Sonoco has obtained a commitment from JPMorgan Chase Bank for a $1.0 billion senior unsecured bridge loan facility, in connection with the acquisition.
Read more/Source: Reuters
