Sonoco acquires businesses from Caraustar
Caraustar Industries, Inc. has sold its fiber container operations located in Covington, Georgia, Orrville, Ohio, St. Paris, Ohio, Stevens Point, Wisconsin; and its plastics operations in New Smyrna Beach, Florida and Union, South Carolina to Sonoco Products Company.
Proceeds from the sale of the assets will be used to reduce Caraustar’s debt. Further terms of the transaction were not disclosed.
Caraustar serves the four principal recycled boxboard product end-use markets: tubes and cores; folding cartons; gypsum facing paper and miscellaneous other specialty paperboard products.