Sonoco To Acquire Ball Metalpack - Quick Facts

(RTTNews) - Sonoco (SON) has entered into a definitive agreement to acquire Ball Metalpack, a manufacturer of sustainable metal packaging for food and household products. Ball Metalpack is a joint venture owned by Platinum Equity and Ball Corp. (BLL). Jim Peterson, CEO of Ball Metalpack, will continue to lead the business.

The purchase price for the deal is $1.35 billion in cash. With the acquisition, Sonoco expects to realize tax benefits having an estimated net present value of approximately $180 million. The acquisition is estimated to be immediately accretive to earnings per share in 2022, with additional accretion expected in 2023.