Sonoco Products Company announced the completion of its acquisition of the remaining equity interest in RTS Packaging, LLC from joint venture partner WestRock and one WestRock paper mill in Chattanooga, Tennessee.

Q2 2023 GAAP operating profit decreased to $188 million as lower overall volume and mix was partially offset by lower acquisition-related and restructuring costs, gains on asset sales, higher price/cost and productivity. Achieved net income margin was 6.7% and Adjusted EBITDA margin was 16.1% in Q2 2023.