Sonoco has signed a definitive agreement to acquire majority stake in Brazilian flexible packaging company, Graffo Paranaense de Embalagens.
"We were looking to invest jointly in Brazil with a partner who has strong technical capabilities and established relationships with both large global consumer product companies and growing local businesses, where we could bring our customer relationships and technical capabilities to grow our presence in this important emerging market," said, Jack Sanders, President and CEO, Sonoco.
The transaction is expected to close in second quarter of 2015.
Graffo operates high-quality rotogravure printing presses, including a new 10-color press, as well as sophisticated lamination applications at its Pinhais facility. The company caters to the confectionery, dairy, pharmaceutical and industrial markets in Brazil.
