Sonoco to acquire Skjern Paper in Denmark
Sonoco to expand European manufacturing with the acquisition of Skjern Paper in Denmark. The estimated $88 million (DKK 675 million) all-cash transaction has been approved by Sonoco’s Board of Directors and is expected to be completed in the 4Q 2022.

Sonoco to acquire Skjern Paper in Denmark

Sonoco to acquire Skjern Paper in Denmark

Photo: Skjern Paper

Sonoco has entered into a definitive agreement to acquire S.P. Holding, Skjern A/S, a privately owned manufacturer of paper based in Skjern, Denmark. The acquisition expands production capacity for customers and Sonoco converting operations throughout Europe and bordering regions. The estimated $88 million (DKK 675 million) all-cash transaction has been unanimously approved by Sonoco’s Board of Directors and is expected to be completed in the 4Q 2022, subject to customary closing conditions.

Founded in 1965, Skjern is a leading producer of high-grade paperboard from 100% recycled paper for rigid paper containers, tubes and cores, and other applications. The company has robust sustainability programs in place for renewable energy and CO2 emission reduction and operations are powered by a biomass boiler, which reduces reliance on natural gas. In 2022, Skjern is expected to achieve annual sales of $50 million and the transaction is expected to be immediately accretive to both earnings per share and cash flow.

Founded in 1899, Sonoco is a global provider of consumer and industrial packaging and products.

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