Sonoco Products to acquire Germany's Weidenhammer for $383M

|About: Sonoco Products Co. (SON)|By:, SA News Editor

Sonoco Products (NYSE:SON) has agreed to purchase Germany's privately-held Weidenhammer Packaging for approximately $383M.

The deal is expected to raise Sonoco's global packaging business to about $2.8B in annual sales, and be accretive to the company's 2015 base earnings in the range of $0.09 to $0.14 per share.

Sonoco plans to fund the acquisition through a combination of existing cash and debt.