Sonoco Completes Acquisition of Corenso Holdings America

Sonoco announced it completed the acquisition of Corenso Holdings America, Inc. from a company owned by investment funds advised by Madison Dearborn Partners, LLC, and management for $110 million in cash.
 
Corenso Holdings America (CHA) is a leading US manufacturer of uncoated recycled paperboard (URB) and high-performance cores used in the paper, packaging films, tape, and specialty industries. CHA produced net sales of approximately $75 million in 2018 and operates a 108,000-ton per year uncoated recycled paperboard mill in Wisconsin Rapids, WI, as well as two core converting facilities in Wisconsin Rapids and Richmond, VA, which combined employ approximately 175 associates. 
 
“This transaction creates a long-term opportunity for Sonoco as CHA operates a best-in-class uncoated recycled paperboard mill that is capable of producing a wide variety of coreboard grades, in addition to providing attractive core converting assets and long-term partnerships with customers,” said Rob Tiede, Sonoco president and CEO.