# Sonoco acquires full control of Conitex, parent of Papertech Tudela plant

US packaging group Sonoco acquired the remaining 70% stake in Conitex from Texpack, giving it 100% of Conitex, the parent of Papertech in Tudela, Spain. The deal is valued at EUR 123 million and was notified to Spain's CNMC on 27 August 2018.

- Type: Acquisition
- Announced: 2018-08-27
- Where: Tudela, Navarra, Spain
- Value: $144.0M (123.0M EUR)
- Status: completed
- Capacity: 50,000 metric tons per year (Tudela plant)
- Products: industrial paper and cardboard tubes, corner protectors, laminates, honeycomb board
- Sectors: [Packaging](https://endata.com/sectors/packaging.md)

## Companies

- [Sonoco](https://endata.com/companies/268.md) (acquirer)
- [Conitex Sonoco](https://endata.com/companies/3364.md) (target)
- [Texpack](https://endata.com/companies/3365.md) (partner)
- [Conitex](https://endata.com/companies/3795.md) (target)

## Sources

- [diariodenavarra.es](https://www.diariodenavarra.es/noticias/negocios/dn-management/2018/09/02/papertech-tudela-pasa-manos-del-gigante-sonoco-608561-2541.html), 2018-09-01: "Sonoco ya contaba con el 30% de la propiedad de Conitex... tras la adquisición del 100% del capital de la matriz Conitex."
- [textileworld.com](https://www.textileworld.com/textile-world/2018/10/sonoco-completes-acquisition-of-conitex-sonoco-joint-venture/), 2018-10-01: "Sonoco acquired the remaining 70-percent interest from Texpack, along with a composite can plant in Spain for $143 million in cash."
- [packaging-gateway.com](https://www.packaging-gateway.com/news/sonoco-closes-143m-acquisition-interest-conitex-sonoco/), 2018-10-02: "Sonoco has closed the transaction in which it purchased the remaining 70% interest in Conitex Sonoco."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.