Sonoco acquired the privately-held Highland for approximately $150 million in cash. Highland’s financial results will be added to Sonoco’s Consumer Packaging segment, and the business will operate within the Company’s Global Plastics division.
Owned by Steve Maxwell, CEO, and John Durham, along with select members of the company’s leadership team, Highland has grown from a regional supplier of agriculture packaging products into a global packaging company with 2017 net sales of approximately $90 million. The company has approximately 425 employees operating a world-class production facility producing engineered containers, flexographic printed labels and inventory management through distribution warehouses in the Southeast and West Coast of the US. Maxwell and other members of Highland’s management team are joining Sonoco.
“Highland significantly expands our thermoforming packaging capabilities for fresh products, especially when you consider our addition of Peninsula Packaging last year. Combined with our acquisition of Clear Lam, also in 2017, we now occupy a strong packaging solutions position serving the perimeter of supermarkets in fresh food products,” said Rob Tiede, Sonoco president and CEO.