SON Stock Recent News

The market is focusing solely on the potential negatives of the Eviosys acquisition while ignoring the accretive earnings forecast. Sonoco's investments in automation and operational efficiency underpin the plan for increasing EBITDA margins. Institutional buyers have stepped in over the last two weeks, possibly helping to put a floor in the share price.

Sonoco (SON) is set to acquire Eviosys to augment its metal packaging business.

Sonoco Products said on Monday it would buy European food cans maker Eviosys from private equity group KPS Capital Partners in a $3.9 billion deal, to expand its metal and aerosol packaging business.

Sonoco Products Co. SON, -1.52% said Monday it agreed to pay $3.9 billion to KPS Capital Partners LP to buy Eviosys, a 6,300-employee food can and closure maker based in Europe. Sonoco said the transaction will make it the “leading metal food can and aerosol packaging manufacturer globally.

Advances Sonoco's Shareholder Value Creation Strategy Through Disciplined and High Return Capital Investment Transaction Value of Approximately $3.9 Billion Represents a Multiple of 7.3x 2024 Expected Adjusted EBITDA Including Synergies Rodger Fuller, Chief Operating Officer, to Lead Integration; Expect to Achieve Over $100 Million of Synergies Within 24 Months Acquisition Expected to be Immediately Accretive to Adjusted EPS and Over 25% Accretive to 2025 Expected Adjusted EPS 1 Transaction Advances Portfolio Transformation Strategy with Initiated Execution of at Least $1 Billion Divestiture Plan, with Net Proceeds for Deleveraging Sonoco Intends to Retain an Investment Grade Rating with Plans to Deleverage to Below 3.0x Within 24 Months Sonoco will Host an Investor and Analyst Conference Call Today at 8:30 a.m. ET HARTSVILLE, S.C.

HARTSVILLE, S.C., June 17, 2024 (GLOBE NEWSWIRE) -- Sonoco (NYSE: SON) today announced it will raise the price for all converted paperboard products by a minimum of 6 percent, effective with shipments in the United States and Canada, on or after July 10th, 2024.

HARTSVILLE, S.C., June 10, 2024 (GLOBE NEWSWIRE) -- Sonoco (NYSE: SON) today announced it is implementing a $70 per ton price increase for all grades of uncoated recycled paperboard (URB) in the United States and Canada, effective with shipments beginning July 10, 2024.

BRUSSELS, June 06, 2024 (GLOBE NEWSWIRE) -- Sonoco-Alcore S.a.r.l. announced today that due to continued inflationary pressure on the business, it will raise prices by 7% on all tube and core grades sold in the company's EMEA regions.

BRUSSELS, Belgium, June 04, 2024 (GLOBE NEWSWIRE) -- Following the announcement of 25th March 2024, Sonoco (NYSE: SON) today announced it is implementing a further price increase as input costs have continued to rise beyond our initial estimation. “We have already successfully implemented a second increase in the Italian market and this will now be applied in the rest of Europe at €25/ton, valid for all shipments after 1st July, 2024.

Sonoco (SON) opens an 11,000-square-foot center in Ohio for metal packaging innovation.