Sonoco Products Co to acquire Weidenhammer Packaging Group

Monday, 25 Aug 2014 03:00am EDT 

Sonoco Products Co:Has signed a definitive agreement to acquire Weidenhammer Packaging Group for 286 million Euros, or about $383 million, in cash.The final consideration is subject to a normal adjustment of net working capital.Sonoco intends to fund the acquisition through a combination of existing cash and debt with an estimated combined net credit leverage ratio of 1.75 times at closing.Macquarie Capital served as a financial advisor to Sonoco.Weidenhammer was represented by Deloitte Corporate Finance Advisory. 

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