Sonoco (SON) has signed an agreement to sell its Europe contract packaging business to Prairie Industries Holdings for $120 million. The company's Europe contract packaging business (Sonoco Poland Packaging Services Sp. z o.o.) provides full-service custom packaging and supply chain management solutions to global consumer product goods companies.

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Sonoco (SON) has signed an agreement to sell its Europe contract packaging business to Prairie Industries Holdings for $120 million. The company's Europe contract packaging business (Sonoco Poland Packaging Services Sp. z o.o.) provides full-service custom packaging and supply chain management solutions to global consumer product goods companies.

RTTNews | Oct 12, 2020 09:17AM EDT

09:16 Monday, October 12, 2020 (RTTNews.com) - Sonoco (SON) has signed an agreement to sell its Europe contract packaging business to Prairie Industries Holdings for $120 million. The company's Europe contract packaging business (Sonoco Poland Packaging Services Sp. z o.o.) provides full-service custom packaging and supply chain management solutions to global consumer product goods companies.

Sonoco said the divestiture is part of its efforts to simplify operating structure to focus on growing core Consumer and Industrial packaging businesses. The company expects to use net proceeds to reduce short-term debt and further improve liquidity position.

Read the original article on RTTNews ( https://www.rttnews.com/3135508/sonoco-to-sell-its-europe-contract-packaging-business-quick-facts.aspx)

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