Discover your next big idea for life sciences at PACK EXPO Las Vegas
Experience a breakthrough in life sciences packaging—explore solutions from 2,300 suppliers spanning all industries, all in one place this month.

Sonoco Completes Acquisition of Peninsula Packaging Company

Sonoco, one of the largest diversified global packaging companies, today announced it has completed the acquisition of Peninsula Packaging Company, a leading manufacturer of thermoformed packaging for fresh fruit and vegetables found in the fast-growing perimeter of retail supermarkets.

This content was written and submitted by the supplier. It has only been modified to comply with this publication’s space and style.

Sonoco acquired Peninsula Packaging for approximately $230 million from funds managed by Odyssey Investment Partners, LLC and other shareholders. Sonoco financed the transaction with a combination of cash and a $150 million three-year term loan. Peninsula's financial results will be added to Sonoco's Consumer Packaging segment and the business will operate as the Peninsula brand of thermoformed packaging products within Sonoco Plastics division's global operations.

Founded in 2001, Peninsula Packaging had 2016 proforma sales of approximately $190 million¹ and operates five manufacturing facilities, four in the United States and one in Mexico. The majority of its business is focused on packaging for a wide range of whole fresh fruits, pre-cut fruits and produce and prepared salad mixes, as well as baked goods. Peninsula's customer base includes most of the leading household names for fresh fruits and vegetables found at retail.

"We are extremely pleased to have Peninsula joining the Sonoco family of leading consumer packaging products. Peninsula significantly expands our thermoforming packaging capabilities and we now occupy a strong packaging position serving the perimeter of supermarkets in fresh food products, combined with our existing offerings in the center of the store, including those serving a range of frozen and shelf-stable foods," said Sonoco Executive Vice President and Chief Operating Officer Rob Tiede.

Tiede added that many of Peninsula's leadership, sales and operations team will remain and it expects no changes in its customer relationships. "Combining Peninsula's product lines with Sonoco's packaging capabilities positions us extremely well to capture new growth in the rapidly expanding fresh and natural category, while greatly accelerating and enhancing our ability to offer our customers the most diverse consumer packaging formats and solutions in the industry," he concluded.

For more information on the Company, visit www.sonoco.com.

¹ Proforma sales includes projected full-year sales from a new operation in Mexico which started in mid-year 2016.

Break out of the ordinary: see what’s new in life sciences packaging
At PACK EXPO Las Vegas, you’ll see machinery in action and new tech from 2,300 suppliers, collaborate with experts and explore transformative solutions. Join us this month to experience a breakthrough for life sciences products.
REGISTER NOW!
Break out of the ordinary: see what’s new in life sciences packaging
List: Digitalization Companies From PACK EXPO
Looking for CPG-focused digital transformation solutions? Download our editor-curated list from PACK EXPO featuring top companies offering warehouse management, ERP, digital twin, and MES software with supply chain visibility and analytics capabilities—all tailored specifically for CPG operations.
Download Now
List: Digitalization Companies From PACK EXPO