HARTSVILLE, S.C. (AP) — Packaging company Sonoco Products Co. said Wednesday it completed its acquisition of Caraustar Industries Inc.'s fiber containers and industrial plastic carriers businesses.
Financial terms of the deal were not disclosed.
Sonoco said it expects the acquisition, which includes six U.S. manufacturing plants employing about 260 workers, will modestly add to earnings in the first full year. The units are expected to generate $50 million in annual sales.
Sonoco operates more than 60 rigid paper and plastics plants worldwide, making it one of the world's largest packaging products manufacturers.