RTTNews | Dec 20, 2021 07:03AM EST

07:03 Monday, December 20, 2021 (RTTNews.com) - Sonoco (SON) has entered into a definitive agreement to acquire Ball Metalpack, a manufacturer of sustainable metal packaging for food and household products. Ball Metalpack is a joint venture owned by Platinum Equity and Ball Corp. (BLL). Jim Peterson, CEO of Ball Metalpack, will continue to lead the business.

The purchase price for the deal is $1.35 billion in cash. With the acquisition, Sonoco expects to realize tax benefits having an estimated net present value of approximately $180 million. The acquisition is estimated to be immediately accretive to earnings per share in 2022, with additional accretion expected in 2023.

Read the original article on RTTNews ( https://www.rttnews.com/3250483/sonoco-to-acquire-ball-metalpack-quick-facts.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved