Sonoco to acquire Highland Packaging

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Global packaging company Sonoco, based in Hartsville, will acquire Highland Packaging Solutions for close to $150 million cash. Highland is a privately owned producer of thermoformed plastic packaging for produce and dairy products.

The acquisition means a further expansion of Sonoco’s thermoforming capabilities and capacity; the addition of in-house capabilities in labeling for new substrates; continued growth in the fresh perimeter of the store; and increased market share in produce and eggs, according to a news release.

“Highland significantly strengthens our perimeter-of-the-store strategy, serving consumers’ demand for fresh and natural foods,” Rob Tiede, Sonoco COO, said in a statement.

Highland’s 2017 net sales were close to $90 million. The company has 425 employees in its production facility in Plant City, Fla., near Tampa.

“Highland’s best-in-class manufacturing and effectiveness with automated filling machines will add breadth to our growing produce mix,” Tiede said. “It will also provide an important entry into egg packaging.”

Highland CEO Steve Maxwell said each company has its own strengths. “Joining our two companies will allow Highland to enhance our speed to service and offer customers a more diverse packaging format,” he said.