Hood Container completed the acquisition of the display and packaging business from Sonoco for $80m.

Hood Container, an integrated paperboard and specialty paper manufacturer, completed the acquisition of the display and packaging business from Sonoco, a global packaging company, for $80m. “Our US display and packaging business has been an industry pioneer with a legacy of providing innovative solutions for complex supply chain challenges. However, Sonoco is focused on growing our core consumer and industrial packaging businesses around the world, and by divesting this business we expect to apply proceeds to further invest in ourselves while returning value to our shareholders,” Howard Coker, Sonoco President and CEO.